RTW Investments LP has recently announced that it has increased stake in Protagonist Therapeutics Inc. (NASDAQ:PTGX) by 28.09%. After grabbing 4.6 million shares, the institutional investor is now in possession of 1.01 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.18% having worth around $103.98 million. Moreover, BVF Partners LP increased its share by 3.78 million to have a control over 3.78 million shares. And BlackRock Fund Advisors raised its holdings to 3008.0 shares by acquiring 3.27 million shares or 5.82% of the stake.
Protagonist Therapeutics Inc. (PTGX) concluded trading on 05/24/23 at a closing price of $25.12, with 1.21 million shares of worth about $30.42 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 212.44% during that period and on Wednesday the price saw a loss of about -0.32%. Currently the company’s common shares owned by public are about 50.57M shares, out of which, 48.48M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the PTGX stock and their offered price forecasts bring an average price target of $34.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $41.00 and could fall to a lowest price of $28.00. The stock’s current price level is 26.98% above of average price target set by the analysts, while a rise to estimated low would result in gain of 10.29% for the stock. However, touching the estimated high of $41.00 would mean a gain of 38.73% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 13 times over the past 12 months. They bought 182,300 shares in 11 of the transactions. In 2 selling transactions, insiders dumped 4,305 shares.
Vanguard Total Stock Market ETF, SPDR S&P Biotech ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Protagonist Therapeutics Inc. Vanguard Total Stock Market ETF is currently holding 1.66 million shares of worth totaling $37.42 million. The company recently came buying 0.19 million shares which brought its stake up to 2.94% of the company’s outstanding shares. SPDR S&P Biotech ETF bought 23155.0 shares, after which its hold over company’s outstanding shares expand to 2.35%, leaving 1.32 million shares with the mutual fund that have a worth of about $29.88 million. iShares Russell 2000 ETF, after selling 0.99 million shares, have now control over 1.76% of the stake in the company. It holds 14480.0 shares of worth $22.38 million.
Protagonist Therapeutics Inc. (NASDAQ: PTGX) started trading at $25.00, below -$0.2 from concluding price of the previous day. However, the stock later moved at a day high price of 25.15, or with a loss of -0.32%. Stock saw a price change of -4.60% in past 5 days and over the past one month there was a price change of 8.04%. Year-to-date (YTD), PTGX shares are showing a performance of 130.25% which increased to 220.82% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.91 but also hit the highest price of $26.87 during that period. The average intraday trading volume for Protagonist Therapeutics Inc. shares is 1.65 million. The stock is currently trading 1.79% above its 20-day simple moving average (SMA20), while that difference is up 9.85% for SMA50 and it goes to 81.79% higher than SMA200.
RTW Investments LP acquired 4.6 million shares of Protagonist Therapeutics Inc. having value of about $103.98 million. Data submitted at the U.S SEC by RTW Investments LP revealed that the firm now holds 1.01 million shares in the company valued at close to $25341382.56, or have control over 28.09% stake in the company. Protagonist Therapeutics Inc. (NASDAQ: PTGX) currently have 50.57M outstanding shares and institutions hold larger chunk of about 98.30% of that. Holding of mutual funds in the company is about 24.72% while other institutional holders and individual stake holders have control over 66.85% and 13.61% of the stake respectively.
The stock has a current market capitalization of $1.38B and its 3Y-monthly beta is at 1.95. It has posted earnings per share of -$2.83 in the same period. It has Quick Ratio of 10.10 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PTGX, volatility over the week remained 4.94% while standing at 4.91% over the month.
Analysts are in expectations that Protagonist Therapeutics Inc. (PTGX) stock would likely to be making an EPS of -$0.68 in the current quarter, while forecast for next quarter EPS is -$0.68 and it is -$2.51 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.8 which is -$0.62 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.84 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 4.20% while it is estimated to decrease by -5.00% in next year.
Analysts at 6 brokerage firms have issued recommendations for the Protagonist Therapeutics Inc. (PTGX)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 6 Wall Street analysts, 6 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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