Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Purchased by Farallon Capital Management LLC

Farallon Capital Management LLC boosted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,930,006 shares of the company’s stock after buying an additional 69,000 shares during the period. Protagonist Therapeutics accounts for 1.2% of Farallon Capital Management LLC’s investment portfolio, making the stock its 29th largest position. Farallon Capital Management LLC owned 9.95% of Protagonist Therapeutics worth $228,898,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Protagonist Therapeutics by 127.2% in the third quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after purchasing an additional 45,674 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Protagonist Therapeutics by 3,099.4% in the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after purchasing an additional 310,804 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Protagonist Therapeutics by 36.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 216,069 shares of the company’s stock worth $8,340,000 after purchasing an additional 58,002 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth about $2,016,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Protagonist Therapeutics by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company’s stock valued at $22,327,000 after buying an additional 12,906 shares during the period. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Price Performance

NASDAQ PTGX opened at $43.98 on Friday. The business has a 50 day moving average price of $46.87 and a 200 day moving average price of $42.75. The company has a market capitalization of $2.72 billion, a P/E ratio of 16.53 and a beta of 2.65. Protagonist Therapeutics, Inc. has a 1-year low of $26.79 and a 1-year high of $60.60.

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

Insider Activity

In related news, 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 stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William D. Waddill sold 4,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.25, for a total transaction of $217,000.00. Following the sale, the director now directly owns 13,130 shares in the company, valued at $712,302.50. This trade represents a 23.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,532 shares of company stock worth $3,665,786. 5.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PTGX has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Protagonist Therapeutics in a research report on Thursday, April 10th. Truist Financial boosted their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. raised their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. JMP Securities reiterated a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Friday, February 7th. Finally, BMO Capital Markets lifted their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.44.

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.