Obermeyer Wood Investment Counsel Lllp Reduces Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Obermeyer Wood Investment Counsel Lllp lessened its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 12.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,066 shares of the company’s stock after selling 1,726 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Protagonist Therapeutics were worth $277,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its holdings in Protagonist Therapeutics by 96.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,473 shares of the company’s stock worth $25,000 after purchasing an additional 723 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Protagonist Therapeutics by 88.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,118 shares of the company’s stock valued at $86,000 after purchasing an additional 1,460 shares during the period. Royal Bank of Canada grew its position in shares of Protagonist Therapeutics by 60.1% in the second quarter. Royal Bank of Canada now owns 4,217 shares of the company’s stock valued at $116,000 after purchasing an additional 1,583 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Protagonist Therapeutics by 27.9% in the second quarter. Ameritas Investment Partners Inc. now owns 4,477 shares of the company’s stock valued at $124,000 after purchasing an additional 976 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Protagonist Therapeutics in the first quarter valued at $135,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX traded up $0.01 on Friday, reaching $25.23. 40,319 shares of the company traded hands, compared to its average volume of 705,710. Protagonist Therapeutics, Inc. has a fifty-two week low of $13.72 and a fifty-two week high of $33.34. The company’s 50 day moving average is $28.54 and its 200-day moving average is $22.85. The stock has a market capitalization of $1.47 billion, a PE ratio of -16.93 and a beta of 2.01.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.39. The company had revenue of $60.00 million for the quarter, compared to analyst estimates of $60.00 million. As a group, analysts expect that Protagonist Therapeutics, Inc. will post 1.18 EPS for the current year.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 25,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $28.31, for a total value of $707,750.00. Following the sale, the chief executive officer now directly owns 549,590 shares of the company’s stock, valued at $15,558,892.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director William D. Waddill sold 12,975 shares of Protagonist Therapeutics stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $31.34, for a total value of $406,636.50. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at $376,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $28.31, for a total transaction of $707,750.00. Following the completion of the sale, the chief executive officer now directly owns 549,590 shares of the company’s stock, valued at approximately $15,558,892.90. The disclosure for this sale can be found here. Insiders sold 82,223 shares of company stock worth $2,522,342 over the last quarter. Corporate insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on PTGX shares. StockNews.com upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Protagonist Therapeutics in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their target price on Protagonist Therapeutics from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

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.