Intech Investment Management LLC Invests $861,000 in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Intech Investment Management LLC bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,128 shares of the company's stock, valued at approximately $861,000.

A number of other institutional investors also recently modified their holdings of PTGX. GAMMA Investing LLC increased its stake in Protagonist Therapeutics by 749.2% during the 3rd 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. Russell Investments Group Ltd. bought a new stake in shares of Protagonist Therapeutics during the 1st quarter valued at approximately $35,000. Exchange Traded Concepts LLC acquired a new position in Protagonist Therapeutics during the 3rd quarter worth approximately $43,000. CWM LLC lifted its stake in Protagonist Therapeutics by 910.3% in 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, Lazard Asset Management LLC acquired a new stake in Protagonist Therapeutics in the first quarter valued at approximately $69,000. Institutional investors own 98.63% of the company's stock.

Insider Buying and Selling

In other news, insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the transaction, the insider now directly owns 46,444 shares in the company, valued at $1,903,275.12. This trade represents a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.96, for a total value of $3,687,299.20. Following the transaction, the chief executive officer now owns 435,208 shares of the company's stock, valued at $20,437,367.68. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,066 shares of company stock valued at $10,681,738 over the last 90 days. Company insiders own 5.40% of the company's stock.

Protagonist Therapeutics Price Performance

NASDAQ PTGX traded down $1.15 during mid-day trading on Friday, reaching $43.80. 320,206 shares of the stock were exchanged, compared to its average volume of 748,721. The stock has a 50 day simple moving average of $45.22 and a 200-day simple moving average of $39.66. Protagonist Therapeutics, Inc. has a one year low of $17.70 and a one year high of $48.89. The stock has a market cap of $2.61 billion, a P/E ratio of 16.47 and a beta of 2.17.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PTGX shares. JMP Securities lowered their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating for the company in a report on Wednesday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Wedbush reiterated an "outperform" rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They issued a "buy" rating and a $60.00 price target for the company. Finally, StockNews.com upgraded shares of Protagonist Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average 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.