Seven Fleet Capital Management LP Takes Position in Protagonist Therapeutics, Inc. $PTGX

Seven Fleet Capital Management LP acquired a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,000 shares of the company’s stock, valued at approximately $699,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 156 shares during the period. Greenline Wealth Management LLC acquired a new position in Protagonist Therapeutics during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC grew its stake in shares of Protagonist Therapeutics by 138.9% in the third quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $36,000 after purchasing an additional 314 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Protagonist Therapeutics by 79.5% in the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after purchasing an additional 525 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Protagonist Therapeutics by 222.4% during the fourth quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock valued at $83,000 after purchasing an additional 656 shares during the period. 98.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PTGX shares. Barclays upped their price objective on shares of Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. The Goldman Sachs Group reissued a “neutral” rating and set a $110.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. TD Cowen boosted their price target on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Citizens Jmp upped their price target on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.21.

Protagonist Therapeutics Stock Up 1.3%

NASDAQ:PTGX opened at $112.86 on Friday. The business’s 50-day moving average price is $102.38 and its 200 day moving average price is $93.88. Protagonist Therapeutics, Inc. has a 52-week low of $49.38 and a 52-week high of $114.49. The firm has a market cap of $7.26 billion, a P/E ratio of -62.35 and a beta of 1.85.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The company had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. Sell-side analysts expect that Protagonist Therapeutics, Inc. will post 2.93 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Asif Ali sold 1,750 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $105.47, for a total transaction of $184,572.50. Following the completion of the sale, the chief financial officer directly owned 59,003 shares of the company’s stock, valued at $6,223,046.41. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the completion of the transaction, the chief executive officer owned 523,478 shares in the company, valued at approximately $52,410,617.36. This trade represents a 12.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 272,345 shares of company stock worth $27,676,386. Company insiders own 5.19% of the company’s stock.

About Protagonist Therapeutics

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.