Commodore Capital LP Decreases Stock Position in Protagonist Therapeutics, Inc. $PTGX

Commodore Capital LP lowered its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,025,000 shares of the company’s stock after selling 50,000 shares during the period. Protagonist Therapeutics comprises 3.3% of Commodore Capital LP’s portfolio, making the stock its 13th largest holding. Commodore Capital LP owned approximately 1.64% of Protagonist Therapeutics worth $68,091,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PTGX. Salomon & Ludwin LLC purchased a new stake in Protagonist Therapeutics in the 3rd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its position in shares of Protagonist Therapeutics by 138.9% in the third quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $36,000 after acquiring an additional 314 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Protagonist Therapeutics during the third quarter valued at $62,000. Osaic Holdings Inc. increased its position in Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after purchasing an additional 525 shares in the last quarter. Finally, Quadrant Capital Group LLC acquired a new position in Protagonist Therapeutics in the 3rd quarter valued at about $90,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $92.36 on Friday. The stock has a 50-day simple moving average of $85.52 and a 200-day simple moving average of $79.66. The stock has a market capitalization of $5.89 billion, a P/E ratio of -45.05 and a beta of 2.23. Protagonist Therapeutics, Inc. has a 1 year low of $39.60 and a 1 year high of $98.32.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.16). Protagonist Therapeutics had a negative net margin of 282.83% and a negative return on equity of 19.89%. The business had revenue of $7.44 million for the quarter, compared to analyst estimates of $14.92 million. Analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In other news, Director William D. Waddill sold 20,000 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $83.68, for a total value of $1,673,600.00. Following the completion of the sale, the director owned 7,825 shares of the company’s stock, valued at $654,796. This represents a 71.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 34,438 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $82.48, for a total value of $2,840,446.24. Following the transaction, the chief executive officer directly owned 580,505 shares in the company, valued at $47,880,052.40. This trade represents a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 203,167 shares of company stock valued at $16,889,199 over the last ninety days. Insiders own 4.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Protagonist Therapeutics from $95.00 to $118.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Citizens Jmp boosted their price target on Protagonist Therapeutics from $102.00 to $112.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. The Goldman Sachs Group raised their price objective on Protagonist Therapeutics from $65.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. HC Wainwright increased their target price on Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Barclays raised their price target on Protagonist Therapeutics from $108.00 to $113.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, 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.