Elmind Capital LP Makes New $4.66 Million Investment in Protagonist Therapeutics, Inc. $PTGX

Elmind Capital LP bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,000 shares of the company’s stock, valued at approximately $4,658,040. Protagonist Therapeutics comprises approximately 0.0% of Elmind Capital LP’s portfolio, making the stock its 21st largest position. Elmind Capital LP owned about 0.06% of Protagonist Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in Protagonist Therapeutics by 30.6% during the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after buying an additional 2,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after purchasing an additional 348 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Protagonist Therapeutics by 283.6% during the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after purchasing an additional 99,269 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Protagonist Therapeutics in the second quarter worth approximately $987,000. Finally, Guggenheim Capital LLC lifted its position in shares of Protagonist Therapeutics by 1.6% in the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after buying an additional 303 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 34,239 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $148.52, for a total value of $5,085,176.28. Following the transaction, the chief executive officer directly owned 523,478 shares in the company, valued at $77,746,952.56. The trade was a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the sale, the director directly owned 7,825 shares of the company’s stock, valued at $922,880.50. The trade was a 53.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 118,000 shares of company stock valued at $16,921,379. 5.19% of the stock is currently owned by company insiders.

Protagonist Therapeutics Trading Down 3.6%

Protagonist Therapeutics stock traded down $5.38 during trading on Friday, hitting $144.12. The company had a trading volume of 365,841 shares, compared to its average volume of 715,249. Protagonist Therapeutics, Inc. has a 1-year low of $54.50 and a 1-year high of $160.81. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 139.92 and a beta of 1.78. The company’s 50 day simple moving average is $137.88 and its 200-day simple moving average is $112.27.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.02. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The firm had revenue of $213.47 million during the quarter, compared to analysts’ expectations of $212.03 million. The company’s quarterly revenue was up 3746.8% on a year-over-year basis. As a group, analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Citigroup increased their price objective on Protagonist Therapeutics from $130.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. BMO Capital Markets upped their price objective on Protagonist Therapeutics from $112.00 to $178.00 and gave the stock an “outperform” rating in a report on Monday, August 17th. Truist Financial boosted their target price on Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Wedbush increased their price objective on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $140.53.

Protagonist Therapeutics Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.