5 Stocks Under $30 to Buy Today According to Billionaire Steven Cohen

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

Point72 Asset Management’s Holdings: $69 million

Percentage of Point72 Asset Management’s Portfolio: 0.27%

Number of Hedge Fund Holders: 24

Share price on May 27, 2022: $8.3

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) is an American biotechnology firm headquartered in Newark, California. It develops treatments that target diseases of the liver and blood, among others. The diseases include hemochromatosis and inflammatory bowel disease.

Insider Monkey’s analysis of Point72Asset Management’s investments for 2022’s January quarter revealed that the fund had held a $69 million stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) through 2.9 million shares. Similarly, our scan of 912 hedge fund portfolios for Q1 2022 outlined 24 as having invested in the firm.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) earned $25 million in revenue and -$0.43 in GAAP EPS during its first fiscal quarter, beating analyst estimates for both. Piper Sandler reduced its price target to $35 from $60 in May 2022, adding that the company will share more drug trial data in June 2022.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s largest investor is Mark Lampert’s Biotechnology Value Fund / BVF Inc which owns 4.1 million shares that are worth $99 million.