Protagonist Therapeutics Inc (NASDAQ:PTGX) Sees Large Drop in Short Interest

Protagonist Therapeutics Inc (NASDAQ:PTGX) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 405,159 shares, a decline of 41.7% from the October 13th total of 694,616 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average daily trading volume, of 101,910 shares, the short-interest ratio is currently 4.0 days.

Protagonist Therapeutics (NASDAQ:PTGX) traded down $1.58 during trading hours on Monday, reaching $17.67. 71,734 shares of the company’s stock were exchanged, compared to its average volume of 84,083. Protagonist Therapeutics has a 52 week low of $8.00 and a 52 week high of $26.36.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.40. The firm had revenue of $8.78 million for the quarter. equities analysts predict that Protagonist Therapeutics will post -3.66 EPS for the current fiscal year.

In related news, insider Richard S. Shames sold 2,017 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $19.00, for a total transaction of $38,323.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard S. Shames sold 3,687 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $14.31, for a total transaction of $52,760.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,579 shares of company stock valued at $227,374. Company insiders own 15.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System boosted its stake in Protagonist Therapeutics by 8.5% during the second quarter. California State Teachers Retirement System now owns 16,600 shares of the company’s stock worth $188,000 after buying an additional 1,300 shares during the period. Bank of New York Mellon Corp boosted its stake in Protagonist Therapeutics by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock worth $313,000 after buying an additional 1,478 shares during the period. Geode Capital Management LLC boosted its stake in Protagonist Therapeutics by 1.9% during the first quarter. Geode Capital Management LLC now owns 101,218 shares of the company’s stock worth $1,296,000 after buying an additional 1,850 shares during the period. Wells Fargo & Company MN boosted its stake in Protagonist Therapeutics by 60.8% during the third quarter. Wells Fargo & Company MN now owns 9,565 shares of the company’s stock worth $169,000 after buying an additional 3,617 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Protagonist Therapeutics by 19.5% during the second quarter. TIAA CREF Investment Management LLC now owns 23,372 shares of the company’s stock worth $264,000 after buying an additional 3,812 shares during the period. 39.68% of the stock is owned by institutional investors.

Several research firms have weighed in on PTGX. Zacks Investment Research raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Saturday, November 11th. ValuEngine downgraded shares of Protagonist Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 11th. Finally, BMO Capital Markets lowered their price target on shares of Protagonist Therapeutics from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 19th.

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About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs.

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