Atika Capital Management LLC Takes $5.51 Million Position in Protagonist Therapeutics, Inc. $PTGX

Atika Capital Management LLC purchased a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 83,000 shares of the company’s stock, valued at approximately $5,514,000. Atika Capital Management LLC owned approximately 0.13% of Protagonist Therapeutics at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Commodore Capital LP bought a new stake in shares of Protagonist Therapeutics during the second quarter worth $59,415,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Protagonist Therapeutics by 218.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,092,262 shares of the company’s stock valued at $60,369,000 after acquiring an additional 748,758 shares during the period. BVF Inc. IL boosted its holdings in Protagonist Therapeutics by 24.7% in the second quarter. BVF Inc. IL now owns 3,211,041 shares of the company’s stock valued at $177,474,000 after acquiring an additional 636,026 shares during the last quarter. Holocene Advisors LP bought a new position in Protagonist Therapeutics in the second quarter valued at about $29,311,000. Finally, State Street Corp increased its position in Protagonist Therapeutics by 18.5% in the second quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after purchasing an additional 500,924 shares during the period. Institutional investors own 98.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PTGX shares. The Goldman Sachs Group boosted their price objective on Protagonist Therapeutics from $65.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. TD Cowen lifted their price target on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Citizens Jmp boosted their price target on shares of Protagonist Therapeutics from $102.00 to $112.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 26th. Citigroup increased their price objective on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a report on Monday, December 8th. Finally, Barclays lifted their target price on shares of Protagonist Therapeutics from $108.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Protagonist Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $101.08.

Protagonist Therapeutics Trading Down 0.6%

Protagonist Therapeutics stock opened at $96.48 on Thursday. The firm has a market capitalization of $6.16 billion, a P/E ratio of -47.06 and a beta of 2.23. Protagonist Therapeutics, Inc. has a 1 year low of $39.60 and a 1 year high of $98.32. The business has a 50-day moving average of $85.26 and a 200-day moving average of $79.14.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.16). The firm had revenue of $7.44 million during the quarter, compared to analyst estimates of $14.92 million. Protagonist Therapeutics had a negative net margin of 282.83% and a negative return on equity of 19.89%. Research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 20,000 shares of Protagonist Therapeutics stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $83.68, for a total transaction of $1,673,600.00. Following the transaction, the director directly owned 7,825 shares in the company, valued at approximately $654,796. The trade was a 71.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Arturo Md Molina sold 5,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $82.00, for a total value of $410,000.00. Following the transaction, the insider owned 84,115 shares in the company, valued at approximately $6,897,430. This represents a 5.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 203,167 shares of company stock valued at $16,889,199. 4.90% of the stock is owned by company insiders.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.