Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 1,304.5% during the second 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 about 0.14% of Protagonist Therapeutics worth $2,918,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PTGX. Kynam Capital Management LP increased its stake in Protagonist Therapeutics by 10.2% in the fourth quarter. Kynam Capital Management LP now owns 2,004,875 shares of the company’s stock valued at $45,972,000 after purchasing an additional 186,218 shares during the period. Superstring Capital Management LP acquired a new position in shares of Protagonist Therapeutics during the fourth quarter worth about $8,694,000. ADAR1 Capital Management LLC acquired a new position in shares of Protagonist Therapeutics during the fourth quarter worth about $4,606,000. Birchview Capital LP increased its stake in shares of Protagonist Therapeutics by 26.3% during the fourth quarter. Birchview Capital LP now owns 48,000 shares of the company’s stock worth $1,101,000 after acquiring an additional 10,000 shares during the period. Finally, Opaleye Management Inc. acquired a new position in shares of Protagonist Therapeutics during the fourth quarter worth about $2,584,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $540,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred 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 transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $540,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics 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 completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,203 shares of company stock valued at $1,311,891. Company insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Truist Financial began 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. JMP Securities dropped 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. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. HC Wainwright upped their target price on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, BTIG Research increased their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Protagonist Therapeutics presently has an average rating of “Buy” and an average price target of $49.86.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $44.56 on Monday. The firm’s 50-day moving average is $41.76 and its 200-day moving average is $34.26. Protagonist Therapeutics, Inc. has a 1 year low of $13.72 and a 1 year high of $48.00. The company has a market cap of $2.62 billion, a P/E ratio of 18.26 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. As a group, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.31 earnings per share for the current year.

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.