Braidwell LP Makes New Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Braidwell LP bought a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,109 shares of the company’s stock, valued at approximately $776,000.

Several other hedge funds also recently made changes to their positions in the company. BVF Inc. IL lifted its position in Protagonist Therapeutics by 2.7% during the fourth quarter. BVF Inc. IL now owns 1,900,015 shares of the company’s stock valued at $73,341,000 after buying an additional 49,848 shares during the period. Bellevue Group AG increased its stake in shares of Protagonist Therapeutics by 92.1% in the 4th quarter. Bellevue Group AG now owns 23,718 shares of the company’s stock worth $916,000 after acquiring an additional 11,372 shares in the last quarter. Bank of America Corp DE lifted its position in Protagonist Therapeutics by 13.4% during the 4th quarter. Bank of America Corp DE now owns 134,872 shares of the company’s stock valued at $5,206,000 after acquiring an additional 15,970 shares during the period. Freestone Grove Partners LP bought a new stake in Protagonist Therapeutics during the fourth quarter worth about $256,000. Finally, AQR Capital Management LLC grew its holdings in Protagonist Therapeutics by 9.4% in the fourth quarter. AQR Capital Management LLC now owns 150,097 shares of the company’s stock worth $5,794,000 after purchasing an additional 12,926 shares during the period. 98.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 30,514 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the completion of the sale, the insider now directly owns 83,892 shares in the company, valued at approximately $4,676,140.08. The trade was a 26.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,532 shares of company stock worth $3,665,786. Insiders own 5.40% of the company’s stock.

Wall Street Analyst Weigh In

PTGX has been the topic of a number of analyst reports. BMO Capital Markets boosted their price target on Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. JMP Securities reissued a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a research note on Monday, March 3rd. The Goldman Sachs Group lowered their price target on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Finally, Wedbush reissued an “outperform” rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.44.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $44.28 on Tuesday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 16.65 and a beta of 2.65. The business has a 50-day simple moving average of $46.53 and a two-hundred day simple moving average of $42.77. Protagonist Therapeutics, Inc. has a fifty-two week low of $25.23 and a fifty-two week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $2.07. The firm had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, research analysts predict 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.