Protagonist Therapeutics, Inc. $PTGX Shares Sold by Atika Capital Management LLC

Atika Capital Management LLC lowered its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 27.8% during the first quarter, HoldingsChannel reports. The firm owned 62,100 shares of the company’s stock after selling 23,900 shares during the period. Atika Capital Management LLC’s holdings in Protagonist Therapeutics were worth $6,545,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of Protagonist Therapeutics by 122.8% in the first quarter. Sei Investments Co. now owns 83,197 shares of the company’s stock valued at $8,769,000 after purchasing an additional 45,851 shares during the period. First Trust Advisors LP increased its stake in Protagonist Therapeutics by 89.1% during the 1st quarter. First Trust Advisors LP now owns 87,858 shares of the company’s stock worth $9,260,000 after buying an additional 41,404 shares during the period. PNC Financial Services Group Inc. increased its stake in Protagonist Therapeutics by 35.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,998 shares of the company’s stock worth $421,000 after buying an additional 1,039 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Protagonist Therapeutics by 22.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 508,103 shares of the company’s stock worth $53,542,000 after buying an additional 93,688 shares in the last quarter. Finally, AlphaCentric Advisors LLC lifted its holdings in Protagonist Therapeutics by 5.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 9,040 shares of the company’s stock worth $953,000 after buying an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wolfe Research began coverage on Protagonist Therapeutics in a research note on Thursday, May 21st. They set an “outperform” rating and a $135.00 target price for the company. Wedbush boosted their price target on Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Citizens Jmp increased their price target on Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. Truist Financial raised their price objective on Protagonist Therapeutics from $121.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Barclays lifted their price objective on Protagonist Therapeutics from $119.00 to $151.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen 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, the company has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Insider Buying and Selling at Protagonist Therapeutics

In other news, Director William D. Waddill sold 9,000 shares of Protagonist Therapeutics stock in a transaction that occurred on 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 approximately $922,880.50. This trade represents a 53.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bryan Giraudo sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $100.00, for a total value of $600,000.00. Following the sale, the director directly owned 31,825 shares in the company, valued at approximately $3,182,500. This represents a 15.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 161,130 shares of company stock worth $16,355,220 over the last quarter. 5.19% of the stock is owned by corporate insiders.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $135.43 on Friday. The firm has a fifty day moving average of $116.11 and a two-hundred day moving average of $101.09. The firm has a market cap of $8.71 billion, a P/E ratio of -74.82 and a beta of 1.79. Protagonist Therapeutics, Inc. has a 1-year low of $50.49 and a 1-year high of $143.29.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $11.70 million. On average, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current 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.