Tidal Investments LLC Decreases Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Tidal Investments LLC trimmed its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 4.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,012 shares of the company’s stock after selling 1,050 shares during the period. Tidal Investments LLC’s holdings in Protagonist Therapeutics were worth $811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PTGX. Deep Track Capital LP purchased a new stake in Protagonist Therapeutics during the 4th quarter valued at $38,600,000. Wellington Management Group LLP boosted its stake in Protagonist Therapeutics by 3,025.4% during the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock worth $36,287,000 after buying an additional 909,998 shares during the period. American Century Companies Inc. boosted its stake in Protagonist Therapeutics by 61.5% during the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock worth $35,832,000 after buying an additional 353,511 shares during the period. Toronto Dominion Bank bought a new position in Protagonist Therapeutics during the fourth quarter valued at $13,162,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter valued at $11,708,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insider Transactions at Protagonist Therapeutics

In related news, CFO Asif Ali sold 1,756 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the sale, the chief financial officer now owns 61,065 shares of the company’s stock, valued at $2,808,990. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the transaction, the insider now owns 83,892 shares in the company, valued at $4,676,140.08. This trade represents a 26.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,173 shares of company stock valued at $3,461,180. Company insiders own 4.90% of the company’s stock.

Analyst Ratings Changes

PTGX has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. BMO Capital Markets raised their price objective 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. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Protagonist Therapeutics in a report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.44.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $45.66 on Tuesday. The firm’s 50 day simple moving average is $45.69 and its 200-day simple moving average is $42.53. Protagonist Therapeutics, Inc. has a one year low of $27.00 and a one year high of $60.60. The firm has a market cap of $2.83 billion, a PE ratio of 17.17 and a beta of 2.65.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.31. The company had revenue of $28.32 million for the quarter, compared to analysts’ expectations of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Equities research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

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.