Trexquant Investment LP Acquires 69,697 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Trexquant Investment LP increased its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 301.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,788 shares of the company's stock after acquiring an additional 69,697 shares during the period. Trexquant Investment LP owned approximately 0.16% of Protagonist Therapeutics worth $3,582,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Protagonist Therapeutics by 4.5% during the third quarter. FMR LLC now owns 454,196 shares of the company's stock valued at $20,439,000 after buying an additional 19,737 shares during the last quarter. BNP Paribas Financial Markets increased its position in Protagonist Therapeutics by 448.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,294 shares of the company's stock valued at $913,000 after acquiring an additional 16,597 shares during the period. State Street Corp raised its stake in Protagonist Therapeutics by 52.9% during the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company's stock valued at $143,259,000 after acquiring an additional 1,101,218 shares in the last quarter. Weiss Asset Management LP acquired a new position in Protagonist Therapeutics during the 3rd quarter worth $2,811,000. Finally, Wellington Management Group LLP bought a new position in shares of Protagonist Therapeutics in the third quarter worth $1,354,000. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Trading Up 4.2 %

Shares of NASDAQ PTGX traded up $1.73 during mid-day trading on Friday, reaching $42.62. The company had a trading volume of 1,157,727 shares, compared to its average volume of 830,537. Protagonist Therapeutics, Inc. has a 1-year low of $24.22 and a 1-year high of $60.60. The stock has a market cap of $2.62 billion, a PE ratio of 16.02 and a beta of 2.30. The company has a 50-day moving average price of $44.06 and a two-hundred day moving average price of $42.75.

Remove Ads

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

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 of the company's stock, valued at $20,627,126.80. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William D. Waddill sold 4,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the transaction, the director now directly owns 13,130 shares in the company, valued at $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 have sold 64,776 shares of company stock worth $3,585,010 over the last 90 days. 5.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, February 24th. BMO Capital Markets upped their price target on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Wedbush reiterated an "outperform" rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Truist Financial boosted their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Finally, BTIG Research set a $73.00 price target on Protagonist Therapeutics in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Protagonist Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $65.44.

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.