Cubist Systematic Strategies LLC Has $2.92 Million Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Cubist Systematic Strategies LLC increased its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 1,304.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,202 shares of the company’s stock after purchasing an additional 78,207 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.14% of Protagonist Therapeutics worth $2,918,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Farallon Capital Management LLC increased its position in Protagonist Therapeutics by 1.8% in the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock worth $202,383,000 after purchasing an additional 101,800 shares during the last quarter. Vanguard Group Inc. increased its holdings in Protagonist Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after buying an additional 39,055 shares during the last quarter. Perceptive Advisors LLC increased its holdings in Protagonist Therapeutics by 27.6% in the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after buying an additional 274,412 shares during the last quarter. Millennium Management LLC raised its position in Protagonist Therapeutics by 2,135.6% during the second quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock valued at $33,205,000 after acquiring an additional 915,418 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Protagonist Therapeutics by 813.4% in the second quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock valued at $10,307,000 after acquiring an additional 264,900 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at $540,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Asif Ali sold 14,203 shares of the business’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 sale, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at $540,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,203 shares of company stock worth $1,311,891 in the last ninety days. 5.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PTGX shares. Truist Financial started coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, BTIG Research boosted their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. 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 presently has an average rating of “Buy” and an average target price of $49.86.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $45.08 on Friday. The stock has a 50-day simple moving average of $42.73 and a 200 day simple moving average of $35.19. Protagonist Therapeutics, Inc. has a twelve month low of $13.72 and a twelve month high of $48.00. The stock has a market capitalization of $2.66 billion, a PE ratio of 17.21 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 business had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. As a group, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.32 EPS for the current fiscal year.

About Protagonist Therapeutics

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.