Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 127.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,591 shares of the company’s stock after purchasing an additional 45,674 shares during the period. Franklin Resources Inc. owned about 0.14% of Protagonist Therapeutics worth $3,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PTGX. GAMMA Investing LLC raised its position 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 during the period. Exchange Traded Concepts LLC acquired a new position in Protagonist Therapeutics in the 3rd quarter worth about $43,000. CWM LLC boosted its position in Protagonist Therapeutics by 910.3% during the third quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after purchasing an additional 1,147 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Protagonist Therapeutics in the third quarter valued at approximately $69,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $95,000 after buying an additional 379 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the transaction, the chief executive officer now owns 435,208 shares of the company’s stock, valued at approximately $20,437,367.68. The trade was a 15.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suneel Gupta sold 103,437 shares of the company’s 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 sale, the insider now directly owns 256,174 shares of the company’s stock, valued at $11,794,250.96. This represents a 28.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,863 shares of company stock worth $9,689,847. 5.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PTGX has been the topic of a number of recent analyst reports. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Truist Financial began coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock. BMO Capital Markets started coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 target price for the company. StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $53.78.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $39.30 on Wednesday. The stock’s 50 day simple moving average is $43.91 and its 200-day simple moving average is $41.06. The stock has a market cap of $2.34 billion, a P/E ratio of 14.77 and a beta of 2.18. Protagonist Therapeutics, Inc. has a 1-year low of $21.43 and a 1-year high of $48.89.

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.