SG Americas Securities LLC Increases Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

SG Americas Securities LLC raised its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 135.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,740 shares of the company’s stock after buying an additional 14,789 shares during the period. SG Americas Securities LLC’s holdings in Protagonist Therapeutics were worth $1,158,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in shares of Protagonist Therapeutics in the 1st quarter worth about $35,000. Lazard Asset Management LLC purchased a new position in shares of Protagonist Therapeutics during the first quarter worth approximately $69,000. Point72 DIFC Ltd bought a new stake in shares of Protagonist Therapeutics in the 2nd quarter worth approximately $153,000. Seven Eight Capital LP purchased a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at $202,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Protagonist Therapeutics by 74.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock valued at $263,000 after purchasing an additional 3,870 shares during the last quarter. 98.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PTGX shares. 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. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Truist Financial began coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. BTIG Research boosted their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. 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’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $49.86.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now directly owns 12,000 shares in the company, valued at approximately $480,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total transaction of $320,000.00. Following the sale, the director now owns 12,000 shares of the company’s stock, valued at $480,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,203 shares of company stock worth $1,311,891 in the last quarter. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $43.59 on Friday. Protagonist Therapeutics, Inc. has a 1 year low of $13.72 and a 1 year high of $48.00. The company has a 50-day moving average of $42.62 and a 200 day moving average of $35.13. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 17.86 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million during the quarter, compared to the consensus estimate of $40.00 million. On average, equities analysts anticipate that Protagonist Therapeutics, Inc. will post 2.32 EPS 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.