Hussman Strategic Advisors Inc. Sells 52,500 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Hussman Strategic Advisors Inc. reduced its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 50.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,500 shares of the company’s stock after selling 52,500 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Protagonist Therapeutics were worth $2,539,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Protagonist Therapeutics by 153.3% in the 1st quarter. GAMMA Investing LLC now owns 1,203 shares of the company’s stock valued at $58,000 after purchasing an additional 728 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Protagonist Therapeutics in the 4th quarter valued at $48,000. Covestor Ltd boosted its stake in shares of Protagonist Therapeutics by 5,200.0% in the 4th quarter. Covestor Ltd now owns 1,643 shares of the company’s stock valued at $63,000 after purchasing an additional 1,612 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Protagonist Therapeutics during the 1st quarter valued at $117,000. Finally, New Vernon Capital Holdings II LLC bought a new position in Protagonist Therapeutics during the fourth quarter worth $118,000. 98.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. Wedbush restated an “outperform” rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th. Citigroup assumed coverage on Protagonist Therapeutics in a research report on Tuesday, June 17th. They issued a “buy” rating and a $72.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.10.

Protagonist Therapeutics Price Performance

Shares of PTGX stock traded up $0.13 on Friday, hitting $56.57. The stock had a trading volume of 43,865 shares, compared to its average volume of 979,382. The business has a 50 day moving average of $51.04 and a 200 day moving average of $45.48. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 75.41 and a beta of 2.26. Protagonist Therapeutics, Inc. has a 12-month low of $32.50 and a 12-month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, May 6th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.31. The company had revenue of $28.32 million during the quarter, compared to the consensus estimate of $30.44 million. Protagonist Therapeutics had a net margin of 27.04% and a return on equity of 9.22%. As a group, research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Asif Ali sold 1,756 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the transaction, the chief financial officer owned 61,065 shares in the company, valued at approximately $2,808,990. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arturo Md Molina sold 10,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total transaction of $570,300.00. Following the transaction, the insider owned 83,892 shares of the company’s stock, valued at approximately $4,784,360.76. The trade was a 10.65% decrease in their position. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.

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.