Squarepoint Ops LLC Invests $340,000 in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Squarepoint Ops LLC purchased a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,823 shares of the company’s stock, valued at approximately $340,000.

A number of other large investors have also recently bought and sold shares of PTGX. GSA Capital Partners LLP grew its position in shares of Protagonist Therapeutics by 179.8% in the first quarter. GSA Capital Partners LLP now owns 55,359 shares of the company’s stock valued at $1,602,000 after purchasing an additional 35,571 shares during the last quarter. Vanguard Group Inc. grew its position in Protagonist Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after buying an additional 39,055 shares in the last quarter. Seven Eight Capital LP grew its position in Protagonist Therapeutics by 426.9% during the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock worth $1,275,000 after buying an additional 29,810 shares in the last quarter. Bank of New York Mellon Corp grew its position in Protagonist Therapeutics by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock worth $7,079,000 after buying an additional 17,065 shares in the last quarter. Finally, Opaleye Management Inc. acquired a new stake in Protagonist Therapeutics during the fourth quarter worth about $2,584,000. 98.63% of the stock is currently owned by institutional investors.

Insider Activity at Protagonist Therapeutics

In related news, CFO Asif Ali sold 14,203 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now owns 34,960 shares of the company’s stock, valued at $1,555,370.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total value of $320,000.00. Following the completion of the sale, the director now owns 12,000 shares in the company, valued at $480,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,203 shares of company stock valued at $1,311,891 in the last quarter. Insiders own 5.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PTGX shares. Truist Financial started coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective for the company. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. JMP Securities lowered their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. HC Wainwright boosted their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, BTIG Research boosted their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $49.86.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $43.59 on Friday. The firm’s 50-day simple moving average is $42.62 and its 200 day simple moving average is $35.13. Protagonist Therapeutics, Inc. has a 52 week low of $13.72 and a 52 week high of $48.00. The firm has a market cap of $2.56 billion, a P/E ratio of 17.86 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. As a group, equities analysts forecast that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current 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.