Bryce Point Capital LLC Takes $343,000 Position in Protagonist Therapeutics, Inc. $PTGX

Bryce Point Capital LLC purchased a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,200 shares of the company’s stock, valued at approximately $343,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Protagonist Therapeutics by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,277,218 shares of the company’s stock worth $206,846,000 after acquiring an additional 57,181 shares during the period. BVF Inc. IL boosted its position in shares of Protagonist Therapeutics by 35.5% during the first quarter. BVF Inc. IL now owns 2,575,015 shares of the company’s stock valued at $124,528,000 after purchasing an additional 675,000 shares in the last quarter. Wellington Management Group LLP grew its stake in Protagonist Therapeutics by 5.0% in the first quarter. Wellington Management Group LLP now owns 987,370 shares of the company’s stock worth $47,749,000 after purchasing an additional 47,293 shares during the period. Woodline Partners LP grew its stake in Protagonist Therapeutics by 54.2% in the first quarter. Woodline Partners LP now owns 897,699 shares of the company’s stock worth $43,413,000 after purchasing an additional 315,372 shares during the period. Finally, Invesco Ltd. raised its holdings in Protagonist Therapeutics by 16.3% in the first 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. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Protagonist Therapeutics

In other news, Director William D. Waddill sold 12,000 shares of the business’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $81.62, for a total value of $979,440.00. Following the completion of the transaction, the director owned 5,130 shares in the company, valued at $418,710.60. The trade was a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 20,000 shares of company stock valued at $1,473,440. 4.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PTGX has been the topic of a number of research reports. BMO Capital Markets restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Monday, October 13th. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Wednesday, October 8th. JMP Securities raised their target price on shares of Protagonist Therapeutics from $67.00 to $69.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. BTIG Research reiterated a “buy” rating and set a $82.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, October 28th. Finally, Truist Financial upped their price target on Protagonist Therapeutics from $76.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.08.

Protagonist Therapeutics Stock Up 0.7%

NASDAQ:PTGX opened at $76.50 on Wednesday. The company’s 50 day moving average price is $67.37 and its 200-day moving average price is $56.94. Protagonist Therapeutics, Inc. has a 52 week low of $33.31 and a 52 week high of $93.25. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 109.29 and a beta of 2.22.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). The firm had revenue of $5.55 million during the quarter, compared to analysts’ expectations of $8.32 million. Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%. As a group, sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

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.