Hussman Strategic Advisors Inc. Purchases New Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Hussman Strategic Advisors Inc. acquired a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 105,000 shares of the company’s stock, valued at approximately $4,053,000. Protagonist Therapeutics accounts for approximately 1.2% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 7th biggest holding. Hussman Strategic Advisors Inc. owned about 0.18% of Protagonist Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new stake in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $43,000. FNY Investment Advisers LLC purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter worth $38,000. CWM LLC increased its holdings in shares of Protagonist Therapeutics by 910.3% during the third quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after acquiring an additional 1,147 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Protagonist Therapeutics in the 3rd quarter worth about $69,000. Finally, KBC Group NV boosted its stake in Protagonist Therapeutics by 54.4% in the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after purchasing an additional 737 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PTGX shares. 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 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.00.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $38.53 on Thursday. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 14.48 and a beta of 2.22. The business’s 50-day moving average is $38.45 and its two-hundred day moving average is $41.85. Protagonist Therapeutics, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $48.89.

Insider Activity

In related news, insider Arturo Md Molina sold 26,000 shares of Protagonist Therapeutics stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the transaction, the insider now directly owns 46,444 shares in the company, valued at approximately $2,076,046.80. The trade was a 35.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suneel Gupta sold 103,437 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the sale, the insider now owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. The trade was a 28.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 207,957 shares of company stock valued at $9,611,739 in the last quarter. 5.40% of the stock is currently owned by insiders.

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.