Glenmede Trust Co. NA Has $674,000 Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Glenmede Trust Co. NA lessened its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,981 shares of the company’s stock after selling 525 shares during the quarter. Glenmede Trust Co. NA’s holdings in Protagonist Therapeutics were worth $674,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. New York State Teachers Retirement System bought a new stake in Protagonist Therapeutics in the 3rd quarter valued at $1,107,000. Seven Eight Capital LP boosted its position in shares of Protagonist Therapeutics by 426.9% during the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock worth $1,275,000 after buying an additional 29,810 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Protagonist Therapeutics by 9.1% during the second quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock worth $7,079,000 after buying an additional 17,065 shares in the last quarter. Swedbank AB acquired a new stake in Protagonist Therapeutics in the 3rd quarter valued at approximately $2,250,000. Finally, Dark Forest Capital Management LP bought a new stake in Protagonist Therapeutics in the 2nd quarter valued at approximately $2,112,000. Institutional investors own 98.63% of the company’s stock.

Insider Buying and Selling

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.96, for a total value of $3,687,299.20. Following the transaction, the chief executive officer now directly owns 435,208 shares in the company, valued at $20,437,367.68. The trade was a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suneel Gupta sold 103,437 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the completion of the transaction, the insider now directly owns 256,174 shares in the company, valued at $11,794,250.96. The trade was a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,066 shares of company stock valued at $10,681,738. 5.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PTGX has been the subject of several research reports. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JMP Securities cut their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. Wedbush restated an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Truist Financial began coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $53.57.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $41.25 on Wednesday. The stock has a 50-day simple moving average of $44.99 and a 200 day simple moving average of $40.04. The stock has a market capitalization of $2.46 billion, a P/E ratio of 15.51 and a beta of 2.18. Protagonist Therapeutics, Inc. has a 52 week low of $18.07 and a 52 week high of $48.89.

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.