Deep Track Capital LP Purchases New Shares in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Deep Track Capital LP purchased a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,000,000 shares of the company’s stock, valued at approximately $38,600,000. Protagonist Therapeutics comprises approximately 1.4% of Deep Track Capital LP’s investment portfolio, making the stock its 24th biggest holding.

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

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 30,514 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the transaction, the insider now directly owns 83,892 shares of the company’s stock, valued at $4,676,140.08. This trade represents a 26.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Asif Ali sold 24,903 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the completion of the transaction, the chief financial officer now directly owns 62,821 shares in the company, valued at approximately $3,689,477.33. The trade was a 28.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,532 shares of company stock valued at $3,665,786 in the last quarter. 5.40% of the stock is currently owned by corporate insiders.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $42.01 on Wednesday. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 15.79 and a beta of 2.65. The company’s fifty day simple moving average is $46.65 and its two-hundred day simple moving average is $42.76. Protagonist Therapeutics, Inc. has a 1 year low of $25.23 and a 1 year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.31. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. BTIG Research set a $73.00 target price on shares of Protagonist Therapeutics in a research note on Monday, March 3rd. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research note on Thursday, April 10th. Truist Financial lifted their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Finally, JMP Securities reissued a “market outperform” rating and set 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 given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.44.

About Protagonist Therapeutics

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.