Assetmark Inc. Purchases 46,157 Shares of Protagonist Therapeutics, Inc. $PTGX

Assetmark Inc. lifted its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 16,195.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,442 shares of the company’s stock after buying an additional 46,157 shares during the period. Assetmark Inc.’s holdings in Protagonist Therapeutics were worth $4,895,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PTGX. Farther Finance Advisors LLC increased its position in shares of Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 156 shares during the last quarter. Greenline Wealth Management LLC purchased a new position in shares of Protagonist Therapeutics in the 4th quarter worth about $27,000. Osaic Holdings Inc. increased its holdings in Protagonist Therapeutics by 79.5% during the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after buying an additional 525 shares during the last quarter. Hantz Financial Services Inc. raised its position in Protagonist Therapeutics by 222.4% in the fourth quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock worth $83,000 after acquiring an additional 656 shares during the period. Finally, Canton Hathaway LLC bought a new stake in Protagonist Therapeutics in the fourth quarter worth about $87,000. 98.63% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the completion of the sale, the chief executive officer owned 523,478 shares of the company’s stock, valued at approximately $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Waddill sold 9,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the transaction, the director owned 7,825 shares in the company, valued at $922,880.50. This represents a 53.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 161,130 shares of company stock worth $16,355,220. Corporate insiders own 5.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PTGX shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. Zacks Research upgraded Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Johnson Rice set a $165.00 price objective on Protagonist Therapeutics in a report on Friday. Finally, Wolfe Research assumed coverage on shares of Protagonist Therapeutics in a report on Thursday, May 21st. They set an “outperform” rating and a $135.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $123.00.

Protagonist Therapeutics Stock Up 3.0%

Shares of PTGX opened at $138.31 on Wednesday. The business’s 50-day moving average price is $114.88 and its 200-day moving average price is $100.41. Protagonist Therapeutics, Inc. has a twelve month low of $50.49 and a twelve month high of $143.29. The stock has a market cap of $8.89 billion, a PE ratio of -76.41 and a beta of 1.79.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The business had revenue of $56.37 million for the quarter, compared to analysts’ expectations of $11.70 million. Analysts expect that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current fiscal year.

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.