5 Small-Cap Stocks to Buy According to Billionaire Steve Cohen

4. Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Number of Hedge Fund Holders: 21

Market Cap as of January 9: $1.7 billion

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) is a clinical-stage biotech company that develops peptide-based medications. The California-based pharmaceutical company is collaborating with Johnson & Johnson’s (NYSE:JNJ) Janssen Biotech on a potential oral medication for psoriasis and irritable bowel disease. Protagonist Therapeutics, Inc. (NASDAQ:PTGX) will begin a phase 2 clinical trial for oral interleukin-23 (IL-23) antagonist in early 2022. 

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) delivered a better-than-expected revenue of $10.3 million in the third quarter of 2021, beating estimates by $8.5 million. 

As of the end of Q3 2021, Point72 Asset Management is the biggest shareholder of Protagonist Therapeutics, Inc. (NASDAQ:PTGX). Steve Cohen upped his stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) between June and September by 280%, bringing his total shares to 4.38 million worth $77.7 million. The biotech company represents 0.34% of Point72 Asset Management’s total holdings. 

Overall, 21 funds of the 867 elite funds tracked by Insider Monkey reported owning stakes in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) at the end of September 2021. Meanwhile, on November 15, JMP Securities analyst Gobind Singh maintained an Outperform rating on Protagonist Therapeutics, Inc. (NASDAQ:PTGX) and raised his price target for the stock to $70 from $60.