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Held by 304 of 5,944 reporting institutions (94th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
EOD close · as of 2026-09-18
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $46.0M 100.0% | $434.4M 100.0% | $60.0M 100.0% | $26.6M 100.0% | $27.4M 100.0% | $28.6M 100.0% | $231K 100.0% | $30.9M 100.0% | $20.1M 100.0% | — |
| Research & Development | $159.3M 346.2% | $138.1M 31.8% | $120.2M 200.3% | $126.2M 474.8% | $126.0M 460.6% | $74.5M 260.3% | $65.0M 28139.8% | $59.5M 192.4% | $46.2M 230.2% | $25.7M |
| Selling, General & Admin | $44.9M 97.5% | $43.5M 10.0% | $33.5M 55.8% | $31.7M 119.4% | $27.2M 99.4% | $18.6M 65.1% | $15.7M 6817.7% | $13.7M 44.3% | $11.8M 58.7% | $7.0M |
| Total Operating Expenses | $204.1M 443.6% | $181.6M 41.8% | $153.7M 256.1% | $158.0M 594.2% | $153.2M 560.0% | $93.1M 325.4% | $80.8M 34957.6% | $73.2M 236.7% | $58.0M 288.9% | $32.7M |
| Operating Income | -$158.1M -343.6% | $252.8M 58.2% | -$93.7M -156.1% | -$131.4M -494.2% | -$125.8M -460.0% | -$64.5M -225.4% | -$80.5M -34857.6% | -$42.3M -136.7% | -$37.9M -188.9% | -$32.7M |
| Interest Expense | — | — | — | — | — | $598K 2.1% | $169K 73.2% | — | — | — |
| Interest & Investment Income | $28.8M 62.6% | $26.3M 6.1% | $14.9M 24.8% | $4.1M 15.3% | $443K 1.6% | $900K 3.1% | $2.8M 1217.7% | $2.6M 8.3% | $948K 4.7% | $242K |
| Other Income (Expense), net | $27K 0.1% | $250K 0.1% | -$201K -0.3% | -$80K -0.3% | -$149K -0.5% | -$46K -0.2% | -$1K -0.4% | -$20K -0.1% | -$8K -0.0% | -$34K |
| Pretax Income | -$129.3M -281.0% | $279.4M 64.3% | -$79.0M -131.6% | -$127.4M -479.3% | -$125.6M -458.9% | -$64.8M -226.5% | -$77.9M -33713.4% | -$39.7M -128.4% | -$37.0M -184.2% | -$37.2M |
| Income Tax Expense | $838K 1.8% | $4.2M 1.0% | $0 0.0% | $0 0.0% | $0 0.0% | $1.3M 4.6% | -$691K -299.1% | -$799K -2.6% | $0 0.0% | $0 |
| Net Income | -$130.1M -282.8% | $275.2M 63.3% | -$79.0M -131.6% | -$127.4M -479.3% | -$125.6M -458.9% | -$66.2M -231.1% | -$77.2M -33414.3% | -$38.9M -125.9% | -$37.0M -184.2% | -$37.2M |
| Per Share | ||||||||||
| EPS (Basic) | $-2.05 | $4.47 | $-1.39 | $-2.60 | $-2.71 | $-1.92 | — | — | — | — |
| EPS (Diluted) | $-2.05 | $4.23 | $-1.39 | $-2.60 | $-2.71 | $-1.92 | — | — | — | — |
| Weighted Avg Shares (Basic) | 63.6M | 61.6M | 56.8M | 49.0M | 46.3M | 34.4M | — | — | — | — |
| Weighted Avg Shares (Diluted) | 63.6M | 65.1M | 56.8M | 49.0M | 46.3M | 34.4M | — | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $143.00 today, the market must believe free cash flow compounds 25.6%/yr for a decade (off $119M normalized FCF).
The market's 25.6% is more conservative than its 8-yr track record.
2-stage DCF · 0.06B shares · net debt -$128M
mean -871.2% · volatility σ 1134% · implied rate exceeded in 0/2 yrs
Central path = implied 25.6%/yr growth; shaded band = ±1σ (1134%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
3/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $56M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -21%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Interest last disclosed in FY2020 (no longer broken out).
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-18
No standout strengths flagged.
Where each multiple sits in its own 10-yr range · 94th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 10-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 1.8× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| R&D | 192.4 | 28139.8 | 260.3 | 460.6 | 474.8 | 200.3 | 31.8 | 346.2 |
| SG&A | 44.3 | 6817.7 | 65.1 | 99.4 | 119.4 | 55.8 | 10.0 | 97.5 |
| Operating Income | -136.7 | -34857.6 | -225.4 | -460.0 | -494.2 | -156.1 | 58.2 | -343.6 |
| Income Tax | -2.6 | -299.1 | 4.6 | 0.0 | 0.0 | 0.0 | 1.0 | 1.8 |
| Net Income | -125.9 | -33414.3 | -231.1 | -458.9 | -479.3 | -131.6 | 63.3 | -282.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on PTGX: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| PTGX | $9.0B | — | — | 195.4× | -89.4% | — | -283% | -21.2% | -21.2% | — | 304 |
Peers = companies sharing PTGX's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.