AlphaQuest LLC Has $84,000 Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

AlphaQuest LLC decreased its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 90.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,177 shares of the company's stock after selling 21,770 shares during the period. AlphaQuest LLC's holdings in Protagonist Therapeutics were worth $84,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. E Fund Management Co. Ltd. grew its stake in shares of Protagonist Therapeutics by 6.2% in the fourth quarter. E Fund Management Co. Ltd. now owns 76,087 shares of the company's stock worth $2,937,000 after acquiring an additional 4,421 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Protagonist Therapeutics in the fourth quarter worth $11,708,000. Victory Capital Management Inc. lifted its position in Protagonist Therapeutics by 84.1% in the fourth quarter. Victory Capital Management Inc. now owns 240,817 shares of the company's stock worth $9,296,000 after purchasing an additional 110,020 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Protagonist Therapeutics by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 578,409 shares of the company's stock worth $22,327,000 after purchasing an additional 12,906 shares during the period. Finally, Cavalier Investments LLC lifted its position in Protagonist Therapeutics by 4.3% in the fourth quarter. Cavalier Investments LLC now owns 31,252 shares of the company's stock worth $1,206,000 after purchasing an additional 1,296 shares during the period. Institutional investors and hedge funds own 98.63% of the company's stock.

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Protagonist Therapeutics Stock Performance

Shares of NASDAQ PTGX traded down $0.40 during midday trading on Friday, reaching $52.65. 3,695,675 shares of the company traded hands, compared to its average volume of 755,411. The firm has a market cap of $3.23 billion, a PE ratio of 19.79 and a beta of 2.34. The stock's 50-day simple moving average is $41.21 and its 200-day simple moving average is $42.63. Protagonist Therapeutics, Inc. has a 12 month low of $24.22 and a 12 month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $170.64 million during the quarter, compared to analysts' expectations of $56.65 million. On average, equities research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on PTGX. JMP Securities reaffirmed a "market outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. The Goldman Sachs Group reduced their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, February 24th. StockNews.com cut Protagonist Therapeutics from a "buy" rating to a "hold" rating in a research report on Tuesday, December 10th. HC Wainwright reaffirmed a "buy" rating and issued a $54.00 target price on shares of Protagonist Therapeutics in a research report on Monday, March 10th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Protagonist Therapeutics has an average rating of "Moderate Buy" and an average price target of $62.56.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the sale, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Waddill sold 4,000 shares of Protagonist Therapeutics stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the completion of the sale, the director now owns 13,130 shares of the company's stock, valued at approximately $712,302.50. The trade was a 23.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,776 shares of company stock valued at $3,585,010 over the last ninety days. 5.40% of the stock is owned by insiders.

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.