Protagonist Therapeutics Inc. (NASDAQ: PTGX) stock jumped 10.72% on Tuesday to $12.70 against a previous-day closing price of $11.47. With 2.04 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.82 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $12.78 whereas the lowest price it dropped to was $11.21. The 52-week range on PTGX shows that it touched its highest point at $30.42 and its lowest point at $6.91 during that stretch. It currently has a 1-year price target of $33.00. Beta for the stock currently stands at 2.08.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PTGX was up-trending over the past week, with a rise of 9.01%, but this was up by 29.99% over a month. Three-month performance surged to 53.94% while six-month performance rose 29.59%. The stock lost -56.70% in the past year, while it has gained 16.41% so far this year. A look at the trailing 12-month EPS for PTGX yields -2.67 with Next year EPS estimates of -3.02. For the next quarter, that number is -0.64. This implies an EPS growth rate of -40.90% for this year and -18.90% for next year.
Float and Shares Shorts:
At present, 49.11 million PTGX shares are outstanding with a float of 48.48 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.23 million, which was 4.54% higher than short shares on Sep 14, 2022. In addition to Dr. Dinesh V. Patel Ph.D. as the firm’s CEO, Pres, Sec. & Director, Dr. David Y. Liu Ph.D. serves as its Chief R&D Strategy Officer.
Through their ownership of 110.70% of PTGX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.65% of PTGX, in contrast to 29.04% held by mutual funds. Shares owned by individuals account for 15.56%. As the largest shareholder in PTGX with 8.49% of the stake, RTW Investments LP holds 4,176,837 shares worth 4,176,837. A second-largest stockholder of PTGX, Farallon Capital Management LLC, holds 3,651,887 shares, controlling over 7.42% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PTGX, holding 3,112,585 shares or 6.33% stake. With a 5.89% stake in PTGX, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 2,899,100 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.83% of PTGX stock, is the second-largest Mutual Fund holder. It holds 1,393,645 shares valued at 15.2 million. iShares Russell 2000 ETF holds 2.11% of the stake in PTGX, owning 1,037,111 shares worth 11.31 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PTGX since 6 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PTGX analysts setting a high price target of $41.00 and a low target of $21.00, the average target price over the next 12 months is $33.50. Based on these targets, PTGX could surge 222.83% to reach the target high and rise by 65.35% to reach the target low. Reaching the average price target will result in a growth of 163.78% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PTGX will report FY 2022 earnings on 02/27/2024. Analysts have provided yearly estimates in a range of -$2.26 being high and -$2.73 being low. For PTGX, this leads to a yearly average estimate of -$2.54. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Protagonist Therapeutics Inc. surprised analysts by $0.23 when it reported -$0.64 EPS against a consensus estimate of -$0.87. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is -$0.36 and the low estimate is -$0.82. The average estimate for the next quarter is thus -$0.64.
Summary of Insider Activity:
Insiders traded PTGX stock several times over the past three months with 6 Buys and 0 Sells. In these transactions, 121,729 shares were bought while 0 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 348,558 while 7,416 shares were sold.