BNP PARIBAS ASSET MANAGEMENT Holding S.A. Makes New $5.67 Million Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 125,898 shares of the company’s stock, valued at approximately $5,665,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.21% of Protagonist Therapeutics at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PTGX. GAMMA Investing LLC grew its holdings in Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after purchasing an additional 487 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Protagonist Therapeutics during the 1st quarter worth approximately $35,000. Exchange Traded Concepts LLC bought a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $43,000. CWM LLC increased its holdings in shares of Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after acquiring an additional 1,147 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Protagonist Therapeutics in the 1st quarter valued at $69,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Arturo Md Molina sold 1,906 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the transaction, the insider now directly owns 46,444 shares in the company, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the 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 owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,109 shares of company stock worth $1,069,999. 5.40% of the stock is currently owned by company insiders.

Protagonist Therapeutics Trading Up 11.5 %

Shares of PTGX stock opened at $46.46 on Monday. The stock has a market cap of $2.77 billion, a P/E ratio of 17.47 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 1 year low of $16.80 and a 1 year high of $48.89. The stock has a 50 day simple moving average of $45.25 and a 200 day simple moving average of $39.34.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Wedbush reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Finally, JMP Securities dropped their price target on 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 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 company currently has a consensus rating of “Buy” and a consensus price target of $53.57.

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.