19,128 Shares in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Acquired by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,128 shares of the company’s stock, valued at approximately $861,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Protagonist Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after purchasing an additional 39,055 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Protagonist Therapeutics in the third quarter valued at $1,107,000. Seven Eight Capital LP boosted its position in Protagonist Therapeutics by 426.9% during the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after acquiring an additional 29,810 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Protagonist Therapeutics by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock worth $7,079,000 after acquiring an additional 17,065 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in shares of Protagonist Therapeutics in the 2nd quarter worth about $2,112,000. Institutional investors own 98.63% of the company’s stock.

Insider Buying and Selling at Protagonist Therapeutics

In related news, insider Suneel Gupta sold 103,437 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the sale, the insider now directly owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. This represents a 28.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Arturo Md Molina sold 26,000 shares of Protagonist Therapeutics stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the transaction, the insider now directly owns 46,444 shares in the company, valued at $2,076,046.80. This represents a 35.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,066 shares of company stock worth $10,681,738. Insiders own 5.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PTGX. JMP Securities decreased their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective for the company. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Protagonist Therapeutics has a consensus rating of “Buy” and an average price target of $53.57.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX opened at $44.95 on Friday. The company has a 50-day moving average price of $45.22 and a 200-day moving average price of $39.66. The stock has a market capitalization of $2.68 billion, a P/E ratio of 16.90 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 1 year low of $17.13 and a 1 year high of $48.89.

Protagonist Therapeutics Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.