Readystate Asset Management LP Has $1.31 Million Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Readystate Asset Management LP trimmed its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 69.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,206 shares of the company’s stock after selling 127,141 shares during the period. Readystate Asset Management LP owned about 0.10% of Protagonist Therapeutics worth $1,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PTGX. State Street Corp grew its position in Protagonist Therapeutics by 108.1% in the 2nd quarter. State Street Corp now owns 6,776,269 shares of the company’s stock worth $53,600,000 after purchasing an additional 3,519,461 shares during the last quarter. Point72 Asset Management L.P. grew its position in Protagonist Therapeutics by 135.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,613,453 shares of the company’s stock worth $59,926,000 after purchasing an additional 1,505,313 shares during the last quarter. Braidwell LP acquired a new stake in Protagonist Therapeutics in the 3rd quarter worth $18,501,000. Perceptive Advisors LLC acquired a new stake in Protagonist Therapeutics in the 1st quarter worth $22,198,000. Finally, Kynam Capital Management LP boosted its position in shares of Protagonist Therapeutics by 86.5% during the 3rd quarter. Kynam Capital Management LP now owns 1,818,657 shares of the company’s stock valued at $30,335,000 after acquiring an additional 843,359 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on PTGX shares. JPMorgan Chase & Co. lifted their target price on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday, February 28th. Finally, StockNews.com upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Protagonist Therapeutics Trading Down 1.4 %

PTGX stock traded down $0.35 during trading on Thursday, hitting $25.22. 434,140 shares of the stock traded hands, compared to its average volume of 714,686. Protagonist Therapeutics, Inc. has a one year low of $13.72 and a one year high of $33.34. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -17.16 and a beta of 2.01. The company has a 50 day simple moving average of $28.56 and a 200 day simple moving average of $22.83.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.39. The firm had revenue of $60.00 million for the quarter, compared to the consensus estimate of $60.00 million. As a group, analysts predict that Protagonist Therapeutics, Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 12,975 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $31.34, for a total value of $406,636.50. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $376,080. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Protagonist Therapeutics news, Director William D. Waddill sold 12,975 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $31.34, for a total value of $406,636.50. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $376,080. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Asif Ali sold 14,248 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $32.24, for a total transaction of $459,355.52. Following the completion of the transaction, the chief financial officer now directly owns 38,397 shares of the company’s stock, valued at $1,237,919.28. The disclosure for this sale can be found here. Insiders sold 82,223 shares of company stock valued at $2,522,342 in the last ninety days. Insiders own 5.00% of the company’s stock.

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.