A share of Protagonist Therapeutics Inc. (NASDAQ:PTGX) closed at $8.46 per share on Wednesday, up from $8.38 day before. While Protagonist Therapeutics Inc. has overperformed by 0.95%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PTGX fell by -44.74%, with highs and lows ranging from $38.11 to $6.91, whereas the simple moving average fell by -54.09% in the last 200 days.
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On August 25, 2022, JMP Securities started tracking Protagonist Therapeutics Inc. (NASDAQ: PTGX) recommending Mkt Outperform. A report published by BTIG Research on February 11, 2022, Initiated its previous ‘Buy’ rating for PTGX. JP Morgan also Upgraded PTGX shares as ‘Overweight’, setting a target price of $55 on the company’s shares in a report dated October 12, 2021. JP Morgan September 20, 2021d its ‘Overweight’ rating to ‘Neutral’ for PTGX, as published in its report on September 20, 2021. Northland Capital’s report from May 24, 2021 suggests a price prediction of $42 for PTGX shares, giving the stock a ‘Outperform’ rating. JMP Securities also rated the stock as ‘Mkt Outperform’.
Analysis of Protagonist Therapeutics Inc. (PTGX)
Further, the quarter-over-quarter decrease in sales is -60.90%, showing a negative trend in the upcoming months.
Protagonist Therapeutics Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -44.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 7.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and PTGX is registering an average volume of 1.01M. On a monthly basis, the volatility of the stock is set at 6.62%, whereas on a weekly basis, it is put at 6.83%, with a gain of 2.79% over the past seven days. Furthermore, long-term investors anticipate a median target price of $36.00, showing growth from the present price of $8.46, which can serve as yet another indication of whether PTGX is worth investing in or should be passed over.
How Do You Analyze Protagonist Therapeutics Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.50%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in PTGX shares?
The recent increase in stakes in PTGX appears to be a result of several institutional investors and hedge funds increasing their positions. SSgA Funds Management, Inc.’s position in PTGX has increased by 108.06% in the first quarter. The company now owns 6,776,269 shares of the stock, with a value of $59.09 million, following the purchase of 3,519,461 additional shares during the last quarter. During the last quarter, the company picked up 0 additional shares for a total stake of worth $41.81 million, bringing number of shares owned by the company to 4,794,499.
During the first quarter, Point72 Asset Management LP added a 1,636,437 position in PTGX. Farallon Capital Management LLC purchased an additional 2.57 million shares in the last quarter, increasing its holdings by 226.20%, now holding 3.7 million shares worth $32.27 million. At the end of the first quarter, Fidelity Management & Research Co decreased its PTGX holdings by -51.02% and now holds 3.49 million PTGX shares valued at $30.44 million with the lessened -3.64 million shares during the period.