Mangrove Partners IM LLC Grows Position in Protagonist Therapeutics, Inc. $PTGX

Mangrove Partners IM LLC lifted its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 21.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 478,413 shares of the company’s stock after purchasing an additional 83,030 shares during the quarter. Protagonist Therapeutics accounts for approximately 2.6% of Mangrove Partners IM LLC’s portfolio, making the stock its 16th largest holding. Mangrove Partners IM LLC’s holdings in Protagonist Therapeutics were worth $31,781,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. iSAM Funds UK Ltd acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at $207,000. Wellington Management Group LLP grew its position in Protagonist Therapeutics by 83.9% during the third quarter. Wellington Management Group LLP now owns 1,908,446 shares of the company’s stock valued at $126,778,000 after buying an additional 870,708 shares during the period. FORA Capital LLC acquired a new stake in Protagonist Therapeutics during the third quarter valued at $245,000. Marshall Wace LLP purchased a new position in Protagonist Therapeutics in the third quarter valued at $72,114,000. Finally, Kennedy Capital Management LLC increased its holdings in Protagonist Therapeutics by 54.5% in the third quarter. Kennedy Capital Management LLC now owns 208,437 shares of the company’s stock valued at $13,846,000 after buying an additional 73,547 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $83.68, for a total transaction of $1,673,600.00. Following the completion of the sale, the director directly owned 7,825 shares in the company, valued at approximately $654,796. The trade was a 71.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lewis T. Williams sold 18,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $82.42, for a total value of $1,483,560.00. Following the transaction, the director directly owned 7,825 shares of the company’s stock, valued at $644,936.50. The trade was a 69.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 203,167 shares of company stock worth $16,889,199 in the last quarter. 4.90% of the stock is owned by insiders.

Protagonist Therapeutics Stock Down 3.2%

PTGX opened at $92.36 on Friday. The firm’s fifty day simple moving average is $85.52 and its two-hundred day simple moving average is $79.50. Protagonist Therapeutics, Inc. has a 52-week low of $39.60 and a 52-week high of $98.32. The company has a market cap of $5.89 billion, a price-to-earnings ratio of -45.05 and a beta of 2.23.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Wednesday, February 25th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.16). Protagonist Therapeutics had a negative return on equity of 19.89% and a negative net margin of 282.83%.The company had revenue of $7.44 million for the quarter, compared to analysts’ expectations of $14.92 million. On average, research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup increased their target price on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Jefferies Financial Group lifted their price target on Protagonist Therapeutics from $95.00 to $118.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Weiss Ratings cut Protagonist Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. Truist Financial increased their price target on Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, HC Wainwright raised their price objective on Protagonist Therapeutics from $80.00 to $117.00 and gave the company a “buy” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $101.08.

Protagonist Therapeutics Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.