Elmind Capital LP Takes $3.32 Million Position in Protagonist Therapeutics, Inc. $PTGX

Elmind Capital LP purchased a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,000 shares of the company’s stock, valued at approximately $3,319,000. Protagonist Therapeutics accounts for 1.0% of Elmind Capital LP’s investment portfolio, making the stock its 22nd biggest position. Elmind Capital LP owned approximately 0.06% of Protagonist Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PTGX. Vanguard Group Inc. grew its holdings in Protagonist Therapeutics by 27.2% during the 4th quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock valued at $472,832,000 after buying an additional 1,156,461 shares in the last quarter. Marshall Wace LLP purchased a new position in Protagonist Therapeutics during the third quarter worth $72,114,000. Commodore Capital LP bought a new position in Protagonist Therapeutics during the 2nd quarter valued at about $59,415,000. UBS Group AG grew its stake in shares of Protagonist Therapeutics by 46.1% during the fourth quarter. UBS Group AG now owns 2,770,021 shares of the company’s stock valued at $241,934,000 after buying an additional 874,013 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Protagonist Therapeutics by 83.9% in the third quarter. Wellington Management Group LLP now owns 1,908,446 shares of the company’s stock worth $126,778,000 after purchasing an additional 870,708 shares during the period. 98.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PTGX has been the topic of several recent research reports. TD Cowen increased their target price on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Citigroup reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Wedbush boosted their price objective on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Truist Financial increased their price target on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Wolfe Research initiated coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.21.

Insider Buying and Selling

In other news, Director William D. Waddill sold 9,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $107.68, for a total value of $969,120.00. Following the sale, the director directly owned 7,825 shares of the company’s stock, valued at $842,596. The trade was a 53.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $52,410,617.36. This represents a 12.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 272,345 shares of company stock worth $27,676,386 in the last quarter. 5.19% of the stock is owned by insiders.

Protagonist Therapeutics Price Performance

Protagonist Therapeutics stock opened at $111.44 on Thursday. The stock has a market capitalization of $7.17 billion, a PE ratio of -61.57 and a beta of 1.85. The business has a 50 day simple moving average of $102.19 and a 200-day simple moving average of $93.72. Protagonist Therapeutics, Inc. has a 12 month low of $49.38 and a 12 month high of $113.66.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.55. The firm had revenue of $56.37 million for the quarter, compared to analysts’ expectations of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. On average, equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.93 EPS for the current fiscal year.

About Protagonist Therapeutics

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.