Point72 DIFC Ltd Invests $153,000 in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Point72 DIFC Ltd acquired a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the second quarter, Holdings Channel reports. The firm acquired 4,415 shares of the company’s stock, valued at approximately $153,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PTGX. Russell Investments Group Ltd. acquired a new position in shares of Protagonist Therapeutics during the 1st quarter valued at $35,000. Lazard Asset Management LLC acquired a new stake in Protagonist Therapeutics in the 1st quarter valued at about $69,000. Seven Eight Capital LP bought a new position in shares of Protagonist Therapeutics during the 1st quarter valued at about $202,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Protagonist Therapeutics by 74.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after purchasing an additional 3,870 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Protagonist Therapeutics by 67.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,192 shares of the company’s stock valued at $324,000 after purchasing an additional 4,517 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PTGX. HC Wainwright upped their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. lifted their price target on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Truist Financial initiated coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective for the company. BTIG Research increased their price target on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, JMP Securities decreased their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $49.86.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 8,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total value of $320,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $480,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total value of $320,000.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at approximately $480,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the transaction, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The disclosure for this sale can be found here. Insiders sold a total of 30,203 shares of company stock worth $1,311,891 over the last quarter. Company insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Trading Down 1.4 %

Protagonist Therapeutics stock opened at $44.37 on Wednesday. Protagonist Therapeutics, Inc. has a 1-year low of $13.72 and a 1-year high of $48.00. The firm’s fifty day simple moving average is $42.06 and its 200-day simple moving average is $34.51. The company has a market capitalization of $2.60 billion, a P/E ratio of 18.18 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. On average, equities research analysts predict that Protagonist Therapeutics, Inc. will post 2.31 earnings per share for the current year.

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.