Elmind Capital LP Invests $3.32 Million in Protagonist Therapeutics, Inc. $PTGX

Elmind Capital LP purchased a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 38,000 shares of the company’s stock, valued at approximately $3,319,000. Protagonist Therapeutics comprises about 1.0% of Elmind Capital LP’s investment portfolio, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after buying an additional 156 shares in the last quarter. Greenline Wealth Management LLC purchased a new stake in Protagonist Therapeutics in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC increased its stake in shares of Protagonist Therapeutics by 138.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $36,000 after acquiring an additional 314 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Protagonist Therapeutics by 222.4% during the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock worth $83,000 after acquiring an additional 656 shares during the period. Finally, Canton Hathaway LLC purchased a new position in shares of Protagonist Therapeutics during the 4th quarter worth $87,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Insider Activity

In other news, insider Arturo Md Molina sold 15,000 shares of Protagonist Therapeutics stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $104.79, for a total value of $1,571,850.00. Following the completion of the transaction, the insider owned 84,115 shares in the company, valued at approximately $8,814,410.85. This trade represents a 15.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $52,410,617.36. This represents a 12.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 272,345 shares of company stock worth $27,676,386 over the last three months. Company insiders own 5.19% of the company’s stock.

Protagonist Therapeutics Stock Up 0.7%

Shares of PTGX opened at $111.44 on Thursday. The company has a market cap of $7.17 billion, a P/E ratio of -61.57 and a beta of 1.85. Protagonist Therapeutics, Inc. has a fifty-two week low of $49.38 and a fifty-two week high of $113.66. The firm’s 50 day moving average price is $102.19 and its 200 day moving average price is $93.72.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. The business had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. Research analysts forecast that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current year.

Wall Street Analyst Weigh In

PTGX has been the subject of a number of analyst reports. Wall Street Zen raised shares of Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $121.00 price objective on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. Barclays raised their target price on Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. JPMorgan Chase & Co. upped their price target on Protagonist Therapeutics from $95.00 to $106.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Finally, Truist Financial raised their price objective on Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.21.

Protagonist Therapeutics Company Profile

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.