Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC cut its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 0.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 556,835 shares of the company’s stock after selling 3,695 shares during the period. Driehaus Capital Management LLC’s holdings in Protagonist Therapeutics were worth $19,294,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PTGX. Millennium Management LLC raised its holdings in Protagonist Therapeutics by 2,135.6% in the 2nd 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 during the last quarter. Superstring Capital Management LP acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth $8,694,000. Renaissance Technologies LLC increased its holdings in shares of Protagonist Therapeutics by 813.4% during the 2nd quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock worth $10,307,000 after buying an additional 264,900 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Protagonist Therapeutics during the 4th quarter worth $4,606,000. Finally, Kynam Capital Management LP increased its holdings in shares of Protagonist Therapeutics by 10.2% during the 4th quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock worth $45,972,000 after buying an additional 186,218 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday. BTIG Research upped their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Truist Financial began coverage on Protagonist Therapeutics in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective for the company. Finally, JMP Securities decreased their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. Seven equities 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.com, Protagonist Therapeutics currently has an average rating of “Buy” and an average target price of $49.86.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the 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 transaction, the director now owns 12,000 shares of the company’s stock, valued at $480,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William D. Waddill sold 8,000 shares of the 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 in the company, valued at $480,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the stock in a transaction dated 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 approximately $1,555,370.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,203 shares of company stock valued at $1,311,891. Insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Trading Down 0.8 %

Shares of Protagonist Therapeutics stock opened at $44.56 on Friday. The company has a fifty day moving average price of $41.76 and a 200 day moving average price of $34.23. Protagonist Therapeutics, Inc. has a twelve month low of $13.72 and a twelve month high of $48.00. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 18.26 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million. Analysts forecast that Protagonist Therapeutics, Inc. will post 2.31 earnings per share for the current year.

Protagonist Therapeutics Company 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.