Readystate Asset Management LP Sells 127,141 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Readystate Asset Management LP lowered its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 69.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,206 shares of the company’s stock after selling 127,141 shares during the quarter. Readystate Asset Management LP’s holdings in Protagonist Therapeutics were worth $1,312,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new position in Protagonist Therapeutics in the 4th quarter valued at approximately $454,000. Virtus ETF Advisers LLC raised its holdings in Protagonist Therapeutics by 29.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,457 shares of the company’s stock valued at $102,000 after buying an additional 1,017 shares during the last quarter. Legal & General Group Plc raised its holdings in Protagonist Therapeutics by 1.2% in the 4th quarter. Legal & General Group Plc now owns 45,289 shares of the company’s stock valued at $1,038,000 after buying an additional 524 shares during the last quarter. Opaleye Management Inc. bought a new position in Protagonist Therapeutics in the 4th quarter valued at approximately $2,584,000. Finally, Bayesian Capital Management LP bought a new position in Protagonist Therapeutics in the 4th quarter valued at approximately $290,000. Institutional investors own 98.63% of the company’s stock.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 12,975 shares of Protagonist Therapeutics stock in a transaction on Friday, March 1st. The shares were sold at an average price of $31.34, for a total value of $406,636.50. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $376,080. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Asif Ali sold 14,248 shares of Protagonist Therapeutics stock in a transaction on Friday, March 1st. The shares were sold at an average price of $32.24, for a total value of $459,355.52. Following the completion of the sale, the chief financial officer now owns 38,397 shares of the company’s stock, valued at approximately $1,237,919.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William D. Waddill sold 12,975 shares of Protagonist Therapeutics stock in a transaction on Friday, March 1st. The shares were sold at an average price of $31.34, for a total transaction of $406,636.50. Following the completion of the sale, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $376,080. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,223 shares of company stock valued at $2,522,342. 5.00% of the stock is owned by company insiders.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock traded down $0.35 during trading hours on Thursday, hitting $25.22. 434,140 shares of the company were exchanged, compared to its average volume of 714,686. The firm has a market cap of $1.47 billion, a P/E ratio of -17.16 and a beta of 2.01. Protagonist Therapeutics, Inc. has a fifty-two week low of $13.72 and a fifty-two week high of $33.34. The company has a 50 day simple moving average of $28.56 and a two-hundred day simple moving average of $22.83.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.05 by $0.39. The company had revenue of $60.00 million for the quarter, compared to analyst estimates of $60.00 million. As a group, sell-side analysts expect that Protagonist Therapeutics, Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, February 28th. Finally, StockNews.com upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

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.