Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Short Interest Update

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 3,000,000 shares, a drop of 14.8% from the September 30th total of 3,520,000 shares. Based on an average daily trading volume, of 656,700 shares, the short-interest ratio is currently 4.6 days.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock traded up $0.94 during trading on Monday, reaching $48.20. 356,196 shares of the company traded hands, compared to its average volume of 743,851. The firm has a market capitalization of $2.84 billion, a PE ratio of 18.51 and a beta of 2.17. Protagonist Therapeutics has a 1-year low of $13.76 and a 1-year high of $48.89. The company has a 50 day moving average price of $44.52 and a 200-day moving average price of $36.71.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). The company had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. Equities research analysts expect that Protagonist Therapeutics will post 2.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BTIG Research increased their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They set a "buy" rating and a $60.00 price target for the company. JMP Securities reduced their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. Finally, HC Wainwright boosted their target price on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, September 12th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $49.86.

Insider Buying and Selling at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the business's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now owns 12,000 shares in the company, valued at $540,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at $540,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the firm's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the transaction, the chief financial officer now directly owns 34,960 shares of the company's stock, valued at $1,555,370.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its position in shares of Protagonist Therapeutics by 179.8% during the first quarter. GSA Capital Partners LLP now owns 55,359 shares of the company's stock worth $1,602,000 after purchasing an additional 35,571 shares during the period. Vanguard Group Inc. raised its holdings in Protagonist Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company's stock worth $92,373,000 after buying an additional 39,055 shares during the last quarter. Seven Eight Capital LP lifted its stake in shares of Protagonist Therapeutics by 426.9% in the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company's stock valued at $1,275,000 after buying an additional 29,810 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Protagonist Therapeutics by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company's stock valued at $7,079,000 after buying an additional 17,065 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Protagonist Therapeutics during the second quarter worth about $2,112,000. Institutional investors own 98.63% of the company's stock.

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.