683 Capital Management LLC Decreases Stake in Protagonist Therapeutics, Inc. $PTGX

683 Capital Management LLC trimmed its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 11.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 445,000 shares of the company’s stock after selling 55,000 shares during the quarter. Protagonist Therapeutics comprises about 1.6% of 683 Capital Management LLC’s holdings, making the stock its 9th largest position. 683 Capital Management LLC’s holdings in Protagonist Therapeutics were worth $24,595,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PTGX. US Bancorp DE increased its holdings in shares of Protagonist Therapeutics by 71.5% in the first quarter. US Bancorp DE now owns 3,654 shares of the company’s stock worth $177,000 after buying an additional 1,524 shares during the period. PNC Financial Services Group Inc. increased its holdings in Protagonist Therapeutics by 38.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,992 shares of the company’s stock valued at $96,000 after purchasing an additional 551 shares during the period. Vanguard Group Inc. raised its holdings in shares of Protagonist Therapeutics by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,277,218 shares of the company’s stock valued at $206,846,000 after acquiring an additional 57,181 shares in the last quarter. Invesco Ltd. raised its holdings in Protagonist Therapeutics by 16.3% in the 1st quarter. Invesco Ltd. now owns 859,648 shares of the company’s stock worth $41,573,000 after purchasing an additional 120,696 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Protagonist Therapeutics in the first quarter worth about $200,000. 98.63% of the stock is currently owned by institutional investors.

Insider Activity at Protagonist Therapeutics

In other news, Director William D. Waddill sold 12,000 shares of the company’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $81.62, for a total transaction of $979,440.00. Following the transaction, the director directly owned 5,130 shares of the company’s stock, valued at approximately $418,710.60. This represents a 70.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.90% of the stock is currently owned by company insiders.

Protagonist Therapeutics Trading Up 3.4%

NASDAQ:PTGX opened at $95.35 on Friday. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 153.79 and a beta of 2.19. The stock has a fifty day simple moving average of $81.41 and a 200-day simple moving average of $64.86. Protagonist Therapeutics, Inc. has a twelve month low of $33.70 and a twelve month high of $95.39.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.03). The firm had revenue of $4.71 million for the quarter, compared to analysts’ expectations of $5.41 million. Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%. As a group, equities research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PTGX shares. Weiss Ratings restated a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. BMO Capital Markets restated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. Citigroup boosted their target price on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Monday. Johnson Rice set a $112.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, October 13th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.54.

Protagonist Therapeutics Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.