Twin Lakes Capital Management LLC Makes New $7.12 Million Investment in Protagonist Therapeutics, Inc. $PTGX

Twin Lakes Capital Management LLC purchased a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 2nd quarter, HoldingsChannel reports. The firm purchased 58,059 shares of the company’s stock, valued at approximately $7,117,000. Protagonist Therapeutics accounts for about 2.7% of Twin Lakes Capital Management LLC’s holdings, making the stock its 6th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. bought a new stake in Protagonist Therapeutics in the second quarter worth $1,263,535,000. Johnson & Johnson bought a new position in Protagonist Therapeutics during the second quarter valued at about $300,220,852. Jupiter Topco LLC bought a new position in Protagonist Therapeutics during the second quarter valued at about $261,039,000. Janus Henderson Group PLC lifted its position in shares of Protagonist Therapeutics by 140.7% in the fourth quarter. Janus Henderson Group PLC now owns 2,649,981 shares of the company’s stock worth $231,355,000 after buying an additional 1,549,160 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Protagonist Therapeutics in the second quarter worth about $162,357,000. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $144.33 on Friday. The stock’s 50-day moving average is $138.51 and its 200-day moving average is $112.49. The company has a market cap of $9.34 billion, a P/E ratio of 140.13 and a beta of 1.78. Protagonist Therapeutics, Inc. has a 52-week low of $54.50 and a 52-week high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.02. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The firm had revenue of $213.47 million during the quarter, compared to the consensus estimate of $212.03 million. The business’s revenue was up 3746.8% on a year-over-year basis. As a group, equities analysts predict that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 65,761 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $149.11, for a total value of $9,805,622.71. Following the completion of the sale, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $78,055,804.58. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William D. Waddill sold 9,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares in the company, valued at approximately $922,880.50. The trade was a 53.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 118,000 shares of company stock worth $16,921,379. Company insiders own 5.19% of the company’s stock.

Wall Street Analysts Forecast Growth

PTGX has been the topic of a number of analyst reports. Citigroup increased their price objective on Protagonist Therapeutics from $130.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wedbush boosted their target price on Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Wolfe Research started coverage on Protagonist Therapeutics in a research report on Thursday, May 21st. They set an “outperform” rating and a $135.00 target price for the company. Truist Financial increased their price target on Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Johnson Rice set a $165.00 price target on shares of Protagonist Therapeutics in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.53.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.