Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Purchased by Quest Partners LLC

Quest Partners LLC boosted its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 885.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,947 shares of the company’s stock after purchasing an additional 21,516 shares during the period. Quest Partners LLC’s holdings in Protagonist Therapeutics were worth $1,078,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 acquiring an additional 379 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 487 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Protagonist Therapeutics in the third quarter worth $43,000. CWM LLC grew its stake in shares of Protagonist Therapeutics by 910.3% in 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, ProShare Advisors LLC grew its stake in shares of Protagonist Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock worth $415,000 after acquiring an additional 1,206 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. 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 has a consensus rating of “Buy” and an average target price of $53.57.

Protagonist Therapeutics Trading Up 5.2 %

PTGX opened at $40.65 on Thursday. The company has a fifty day simple moving average of $45.43 and a 200 day simple moving average of $38.99. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 15.28 and a beta of 2.17. Protagonist Therapeutics, Inc. has a twelve month low of $16.80 and a twelve month high of $48.89.

Insiders Place Their Bets

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the business’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 sale, the director now directly owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 40.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Asif Ali sold 14,203 shares of the business’s 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 $1,555,370.40. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,109 shares of company stock valued at $1,069,999 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.

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.