Algert Global LLC Sells 36,400 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Algert Global LLC trimmed its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 23.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,679 shares of the company's stock after selling 36,400 shares during the period. Algert Global LLC owned about 0.20% of Protagonist Therapeutics worth $5,206,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its holdings in shares of Protagonist Therapeutics by 405,061.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company's stock valued at $78,034,000 after acquiring an additional 1,733,662 shares during the last quarter. Millennium Management LLC raised its stake in Protagonist Therapeutics by 2,135.6% during the 2nd quarter. Millennium Management LLC now owns 958,283 shares of the company's stock valued at $33,205,000 after acquiring an additional 915,418 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in Protagonist Therapeutics by 27.6% in the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company's stock worth $43,962,000 after purchasing an additional 274,412 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Protagonist Therapeutics by 813.4% in the second quarter. Renaissance Technologies LLC now owns 297,467 shares of the company's stock valued at $10,307,000 after acquiring an additional 264,900 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Protagonist Therapeutics during the 2nd quarter valued at $5,467,000. 98.63% of the stock is currently owned by institutional investors.

Insider Activity at Protagonist Therapeutics

In other news, insider Arturo Md Molina sold 1,906 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the sale, the insider now owns 46,444 shares in the company, valued at $1,903,275.12. The trade was a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the director now directly owns 12,000 shares in the company, valued at $540,000. This trade represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,109 shares of company stock valued at $1,069,999 in the last three months. Corporate insiders own 5.40% of the company's stock.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX traded down $0.93 on Monday, hitting $45.53. The stock had a trading volume of 1,324,520 shares, compared to its average volume of 751,650. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 17.34 and a beta of 2.17. Protagonist Therapeutics, Inc. has a twelve month low of $16.80 and a twelve month high of $48.89. The firm's 50 day moving average price is $45.25 and its 200-day moving average price is $39.34.

Wall Street Analysts Forecast Growth

PTGX has been the topic of several recent analyst reports. StockNews.com upgraded Protagonist Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. Wedbush reiterated an "outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. JMP Securities cut their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating for the company in a research report on Wednesday, August 7th. Truist Financial started coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, TD Cowen upgraded Protagonist Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $53.57.

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.