FNY Investment Advisers LLC Purchases New Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

FNY Investment Advisers LLC acquired a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,000 shares of the company’s stock, valued at approximately $38,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PTGX. Renaissance Technologies LLC grew its position 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 period. Seven Eight Capital LP boosted its stake in Protagonist Therapeutics by 426.9% in the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after acquiring an additional 29,810 shares during the last quarter. Farallon Capital Management LLC grew its holdings in Protagonist Therapeutics by 1.8% during the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock worth $202,383,000 after acquiring an additional 101,800 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at $153,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Protagonist Therapeutics by 1,304.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 84,202 shares of the company’s stock valued at $2,918,000 after purchasing an additional 78,207 shares during the period. 98.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the sale, the insider now owns 46,444 shares of the company’s stock, valued at $2,076,046.80. The trade was a 35.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 435,208 shares of the company’s stock, valued at approximately $20,437,367.68. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,863 shares of company stock worth $9,689,847. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Stock Up 3.5 %

Shares of PTGX stock opened at $37.94 on Thursday. Protagonist Therapeutics, Inc. has a 12-month low of $23.17 and a 12-month high of $48.89. The firm has a fifty day moving average of $40.96 and a 200-day moving average of $41.64. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 14.26 and a beta of 2.23.

Analyst Ratings Changes

A number of research firms recently commented on PTGX. BMO Capital Markets assumed coverage on Protagonist Therapeutics in a report on Friday, December 6th. They issued an “outperform” rating and a $62.00 price objective for the company. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group assumed coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They issued a “neutral” rating and a $47.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.78.

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.