Public Sector Pension Investment Board Acquires New Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Public Sector Pension Investment Board bought a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 124,949 shares of the company’s stock, valued at approximately $5,623,000. Public Sector Pension Investment Board owned about 0.21% of Protagonist Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Protagonist Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after buying an additional 379 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Protagonist Therapeutics by 749.2% during 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 bought a new stake in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $43,000. CWM LLC grew its holdings in shares of Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Protagonist Therapeutics in the 1st quarter worth $35,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Protagonist Therapeutics Trading Down 2.6 %

NASDAQ:PTGX opened at $43.80 on Monday. The company has a market cap of $2.61 billion, a PE ratio of 16.47 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 12 month low of $17.70 and a 12 month high of $48.89. The company has a 50 day simple moving average of $45.15 and a two-hundred day simple moving average of $39.89.

Insider Buying and Selling

In related news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $540,000. This represents a 40.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the sale, the insider now directly owns 46,444 shares in the company, valued at approximately $1,903,275.12. This represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,066 shares of company stock valued at $10,681,738. 5.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PTGX has been the topic of several recent analyst reports. Truist Financial began coverage on Protagonist Therapeutics in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. JMP Securities cut their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 7th. Wedbush restated an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $53.57.

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.