AQR Capital Management LLC Sells 55,952 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

AQR Capital Management LLC lowered its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 69.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,055 shares of the company’s stock after selling 55,952 shares during the quarter. AQR Capital Management LLC’s holdings in Protagonist Therapeutics were worth $868,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at approximately $504,000. Squarepoint Ops LLC bought a new stake in Protagonist Therapeutics in the second quarter valued at $340,000. Cubist Systematic Strategies LLC raised its stake in Protagonist Therapeutics by 1,304.5% during the second quarter. Cubist Systematic Strategies LLC now owns 84,202 shares of the company’s stock worth $2,918,000 after acquiring an additional 78,207 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Protagonist Therapeutics during the second quarter valued at $153,000. Finally, Farallon Capital Management LLC boosted its stake in shares of Protagonist Therapeutics by 1.8% in the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock valued at $202,383,000 after purchasing an additional 101,800 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. HC Wainwright lifted their target price on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. JMP Securities cut their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of “Buy” and an average price target of $49.86.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $540,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at $540,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,203 shares of company stock worth $1,311,891 over the last three months. 5.40% of the stock is currently owned by company insiders.

Protagonist Therapeutics Price Performance

PTGX stock opened at $45.08 on Friday. The company has a 50 day moving average price of $42.89 and a 200 day moving average price of $35.31. Protagonist Therapeutics, Inc. has a fifty-two week low of $13.72 and a fifty-two week high of $48.00. The stock has a market capitalization of $2.66 billion, a PE ratio of 17.21 and a beta of 2.17.

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

Protagonist Therapeutics Company Profile

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.