Entropy Technologies LP Acquires Shares of 6,929 Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Entropy Technologies LP bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 6,929 shares of the company’s stock, valued at approximately $312,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after purchasing an additional 487 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Protagonist Therapeutics in the 3rd quarter worth about $43,000. Russell Investments Group Ltd. purchased a new position in Protagonist Therapeutics during the 1st quarter valued at about $35,000. CWM LLC boosted its stake in Protagonist Therapeutics by 910.3% during the third quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after acquiring an additional 1,147 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Protagonist Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after purchasing an additional 379 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $41.11 on Friday. Protagonist Therapeutics, Inc. has a one year low of $15.58 and a one year high of $48.89. The stock has a 50-day moving average of $45.63 and a 200 day moving average of $38.61. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 15.45 and a beta of 2.17.

Analyst Ratings Changes

A number of analysts have recently commented on PTGX shares. Truist Financial began coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a report on Monday, November 11th. BTIG Research raised their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Wedbush restated an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, November 4th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Buy” and an average target price of $53.57.

Insider Activity

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $540,000. This represents a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

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.