Soleus Capital Management L.P. Takes $10.62 Million Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Soleus Capital Management L.P. bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 275,000 shares of the company’s stock, valued at approximately $10,615,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of Montreal Can raised its holdings in Protagonist Therapeutics by 4.5% during the fourth quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock worth $241,000 after purchasing an additional 270 shares in the last quarter. Maryland State Retirement & Pension System grew its position in shares of Protagonist Therapeutics by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock valued at $779,000 after buying an additional 278 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Protagonist Therapeutics by 10.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock valued at $121,000 after buying an additional 295 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Protagonist Therapeutics by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after acquiring an additional 300 shares in the last quarter. Finally, KBC Group NV lifted its position in Protagonist Therapeutics by 54.4% in the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after acquiring an additional 737 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research report on Thursday, April 10th. BTIG Research set a $73.00 price target on Protagonist Therapeutics in a research note on Monday, March 3rd. Truist Financial lifted their price target on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, JMP Securities reissued a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.44.

Insider Transactions at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Asif Ali sold 1,756 shares of the company’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total value of $80,776.00. Following the transaction, the chief financial officer now directly owns 61,065 shares in the company, valued at $2,808,990. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,532 shares of company stock worth $3,665,786. Company insiders own 4.90% of the company’s stock.

Protagonist Therapeutics Stock Up 0.2%

PTGX opened at $44.49 on Monday. The business has a 50 day moving average price of $46.77 and a two-hundred day moving average price of $42.57. Protagonist Therapeutics, Inc. has a 52 week low of $27.00 and a 52 week high of $60.60. The company has a market cap of $2.76 billion, a PE ratio of 16.73 and a beta of 2.65.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.31. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $28.32 million during the quarter, compared to analysts’ expectations of $30.44 million. As a group, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

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.