Knott David M Jr Trims Stock Holdings in Protagonist Therapeutics, Inc. $PTGX

Knott David M Jr cut its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 13.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,000 shares of the company’s stock after selling 10,000 shares during the period. Protagonist Therapeutics accounts for about 3.9% of Knott David M Jr’s portfolio, making the stock its 5th biggest position. Knott David M Jr owned about 0.10% of Protagonist Therapeutics worth $6,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 156 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Protagonist Therapeutics by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,393 shares of the company’s stock worth $1,170,000 after acquiring an additional 193 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Protagonist Therapeutics by 2.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company’s stock worth $751,000 after acquiring an additional 196 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Protagonist Therapeutics by 7.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock worth $291,000 after purchasing an additional 200 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Protagonist Therapeutics by 8.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,959 shares of the company’s stock worth $258,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $135.43 on Friday. The firm has a market capitalization of $8.71 billion, a price-to-earnings 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. The company has a 50-day moving average of $116.11 and a 200 day moving average of $101.09.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million for the quarter, compared to the consensus estimate of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. On average, equities analysts anticipate that Protagonist Therapeutics, Inc. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PTGX shares. TD Cowen reissued a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, July 1st. Citigroup restated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Friday, July 17th. Truist Financial upped their target price on Protagonist Therapeutics from $121.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $110.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. Finally, Zacks Research raised Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Two 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $123.00.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at $52,410,617.36. This represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bryan Giraudo sold 6,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $100.00, for a total value of $600,000.00. Following the transaction, the director owned 31,825 shares in the company, valued at $3,182,500. The trade was a 15.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 161,130 shares of company stock worth $16,355,220. Company insiders own 5.19% of the company’s stock.

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 ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.