Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Short Interest Update

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 3,260,000 shares, an increase of 59.8% from the June 30th total of 2,040,000 shares. Based on an average daily volume of 894,700 shares, the short-interest ratio is presently 3.6 days.

Analysts Set New Price Targets

Several analysts have recently issued reports on PTGX shares. JPMorgan Chase & Co. increased their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday. JMP Securities reissued a “market outperform” rating and set a $45.00 target price on shares of Protagonist Therapeutics in a report on Monday, June 17th. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Protagonist Therapeutics in a report on Friday, June 14th. Finally, BTIG Research increased their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

Protagonist Therapeutics Stock Down 3.1 %

NASDAQ:PTGX opened at $40.28 on Monday. The stock’s 50-day simple moving average is $33.64 and its 200 day simple moving average is $29.67. The firm has a market capitalization of $2.36 billion, a PE ratio of 16.51 and a beta of 2.13. Protagonist Therapeutics has a twelve month low of $13.72 and a twelve month high of $42.67.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, May 7th. The company reported $3.26 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.75. The business had revenue of $254.95 million during the quarter, compared to analyst estimates of $300.00 million. On average, analysts anticipate that Protagonist Therapeutics will post 2.28 EPS for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $35.00, for a total value of $280,000.00. Following the sale, the director now owns 12,000 shares in the company, valued at approximately $420,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $35.00, for a total value of $280,000.00. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $420,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dinesh V. Ph D. Patel sold 35,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $35.19, for a total value of $1,231,650.00. Following the completion of the transaction, the chief executive officer now directly owns 515,415 shares in the company, valued at $18,137,453.85. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock worth $1,831,650 in the last 90 days. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Protagonist Therapeutics by 2.6% in the third quarter. Vanguard Group Inc. now owns 3,228,394 shares of the company’s stock valued at $53,850,000 after purchasing an additional 80,639 shares during the last quarter. Kynam Capital Management LP raised its position in shares of Protagonist Therapeutics by 10.2% during the fourth quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock worth $45,972,000 after acquiring an additional 186,218 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Protagonist Therapeutics by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 455,321 shares of the company’s stock worth $10,441,000 after acquiring an additional 16,219 shares during the last quarter. Gratus Capital LLC raised its position in shares of Protagonist Therapeutics by 35.8% during the fourth quarter. Gratus Capital LLC now owns 397,571 shares of the company’s stock worth $9,116,000 after acquiring an additional 104,702 shares during the last quarter. Finally, Superstring Capital Management LP bought a new position in shares of Protagonist Therapeutics during the fourth quarter worth about $8,694,000. 98.63% of the stock is currently owned by institutional investors.

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.