Protagonist Therapeutics, Inc. $PTGX Shares Sold by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. lowered its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 40.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,500 shares of the company’s stock after selling 21,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Protagonist Therapeutics were worth $1,741,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in Protagonist Therapeutics by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 347,095 shares of the company’s stock worth $16,786,000 after buying an additional 9,286 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Protagonist Therapeutics by 4.1% in the 1st quarter. Hsbc Holdings PLC now owns 8,458 shares of the company’s stock valued at $405,000 after acquiring an additional 330 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of Protagonist Therapeutics in the first quarter worth $362,000. Inspire Investing LLC raised its holdings in shares of Protagonist Therapeutics by 106.9% during the first quarter. Inspire Investing LLC now owns 21,834 shares of the company’s stock worth $1,056,000 after purchasing an additional 11,279 shares during the last quarter. Finally, Axiom Investors LLC DE purchased a new position in shares of Protagonist Therapeutics during the first quarter worth $1,933,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PTGX shares. Wedbush upped their price target on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Leerink Partnrs upgraded Protagonist Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. BTIG Research reissued a “buy” rating and issued a $82.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, October 28th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Protagonist Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $77.08.

Protagonist Therapeutics Trading Down 3.4%

Shares of PTGX stock opened at $75.95 on Tuesday. Protagonist Therapeutics, Inc. has a 12-month low of $33.31 and a 12-month high of $93.25. The business’s 50 day moving average is $66.98 and its two-hundred day moving average is $56.73. The company has a market capitalization of $4.72 billion, a P/E ratio of 108.50 and a beta of 2.21.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Wednesday, August 6th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.02). Protagonist Therapeutics had a return on equity of 8.12% and a net margin of 24.88%.The business had revenue of $5.55 million for the quarter, compared to analyst estimates of $8.32 million. On average, research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Protagonist Therapeutics news, Director William D. Waddill sold 12,000 shares of the company’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $81.62, for a total transaction of $979,440.00. Following the completion of the transaction, the director directly owned 5,130 shares in the company, valued at approximately $418,710.60. This represents a 70.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 20,000 shares of company stock worth $1,473,440 in the last ninety days. Corporate insiders own 4.90% of the company’s stock.

Protagonist Therapeutics Company 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.