Perceptive Advisors LLC Sells 119,546 Shares of Protagonist Therapeutics, Inc. $PTGX

Perceptive Advisors LLC decreased its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,230,879 shares of the company’s stock after selling 119,546 shares during the period. Protagonist Therapeutics comprises approximately 2.5% of Perceptive Advisors LLC’s holdings, making the stock its 10th largest holding. Perceptive Advisors LLC’s holdings in Protagonist Therapeutics were worth $129,735,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. NEXTBio Capital Management LP bought a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $20,055,000. Jennison Associates LLC bought a new position in Protagonist Therapeutics in the fourth quarter worth $28,924,000. Clearbridge Investments LLC bought a new position in Protagonist Therapeutics in the fourth quarter worth $42,783,000. Keystone Investors PTE Ltd. acquired a new stake in Protagonist Therapeutics during the fourth quarter worth $2,305,000. Finally, Eagle Health Investments LP acquired a new stake in Protagonist Therapeutics during the fourth quarter worth $5,005,000. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Trading Down 1.4%

Shares of Protagonist Therapeutics stock opened at $136.64 on Friday. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of -75.49 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 firm’s 50-day moving average price is $120.38 and its two-hundred day moving average price is $103.23.

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, 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 company had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. As a group, equities research analysts predict that Protagonist Therapeutics, Inc. will post 3.69 EPS for the current year.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director Bryan Giraudo sold 6,000 shares of Protagonist Therapeutics 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 completion of the transaction, the director owned 31,825 shares in the company, valued at approximately $3,182,500. The trade was a 15.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William D. Waddill sold 9,000 shares of the business’s stock in a transaction 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 directly owned 7,825 shares in the company, valued at approximately $922,880.50. This represents a 53.49% decrease in their position. 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. Insiders have sold a total of 161,130 shares of company stock worth $16,355,220 in the last three months. Insiders own 5.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PTGX. Citizens Jmp boosted their price target on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, July 1st. Wedbush lifted their target price on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $110.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Finally, Wolfe Research began coverage on shares of Protagonist Therapeutics in a research report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 price target for the company. 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 assigned a Sell rating to the company. According to MarketBeat, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $123.00.

About Protagonist Therapeutics

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.