Protagonist Therapeutics (PTGX) Cut to Hold at Zacks Investment Research

Protagonist Therapeutics (NASDAQ:PTGX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a proprietary technology platform focused on discovering and developing peptide-based new chemical entities to address significant unmet medical needs. The Company’s initial lead product candidates consists of PTG-100 and PTG-200, which have the potential to transform the existing treatment paradigm for inflammatory bowel disease, a GI disease consisting primarily of ulcerative colitis and Crohn’s disease; PTG-300, an injectable hepcidin mimetic. Protagonist Therapeutics, Inc. is based in Milpitas, United States. “

A number of other equities research analysts also recently issued reports on the stock. Nomura assumed coverage on shares of Protagonist Therapeutics in a research report on Thursday, December 6th. They issued a “buy” rating and a $13.00 price objective for the company. ValuEngine downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.65.

PTGX stock opened at $7.32 on Friday. The firm has a market capitalization of $178.98 million, a P/E ratio of -3.50 and a beta of 2.10. Protagonist Therapeutics has a 12-month low of $5.49 and a 12-month high of $23.97.

In other news, insider David Y. Liu sold 3,821 shares of the stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $7.74, for a total value of $29,574.54. Following the transaction, the insider now owns 37,007 shares of the company’s stock, valued at approximately $286,434.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dinesh V. Ph D. Patel sold 10,909 shares of the stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $7.74, for a total transaction of $84,435.66. Following the completion of the transaction, the chief executive officer now directly owns 367,396 shares in the company, valued at approximately $2,843,645.04. The disclosure for this sale can be found here. 13.80% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Protagonist Therapeutics by 250.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 240,638 shares of the company’s stock valued at $2,476,000 after purchasing an additional 172,047 shares during the last quarter. Bridgeway Capital Management Inc. grew its holdings in shares of Protagonist Therapeutics by 69.2% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 85,600 shares of the company’s stock valued at $881,000 after purchasing an additional 35,000 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at $304,000. Monashee Investment Management LLC bought a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at $442,000. Finally, Jennison Associates LLC bought a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at $3,598,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing peptide-based drugs to address various unmet medical needs. The company's lead product candidates include PTG-100, an oral alpha-4-beta-7 integrin- antagonist that is in Phase II b clinical trial for the treatment of ulcerative colitis, as well as for treating chronic pouchitis, a gastrointestinal (GI) condition that occurs in post-surgical inflammatory bowel disease (IBD) patients; PTG-200, an oral interleukin-23 receptor antagonist, which is in Phase I clinical trial for the treatment of IBD; and PTG-300, an injectable hepcidin mimetic, which has completed Phase I study for use in the treatment of beta-thalassemia, as well as for treating other diseases, such as hereditary hemochromatosis, polycythemia vera, siderophilic infections, and liver fibrosis.

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