Fmr LLC Grows Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

FMR LLC increased its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 454,196 shares of the company's stock after purchasing an additional 19,737 shares during the quarter. FMR LLC owned approximately 0.76% of Protagonist Therapeutics worth $20,439,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Advantage Alpha Capital Partners LP purchased a new stake in Protagonist Therapeutics in the third quarter valued at approximately $510,000. The Manufacturers Life Insurance Company lifted its stake in Protagonist Therapeutics by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 115,765 shares of the company's stock valued at $5,209,000 after buying an additional 1,359 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Protagonist Therapeutics in the third quarter valued at approximately $69,000. Swedbank AB purchased a new stake in Protagonist Therapeutics in the third quarter valued at approximately $2,250,000. Finally, Cerity Partners LLC lifted its stake in Protagonist Therapeutics by 26.7% in the third quarter. Cerity Partners LLC now owns 14,241 shares of the company's stock valued at $641,000 after buying an additional 3,005 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.

Insider Buying and Selling

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.96, for a total value of $3,687,299.20. Following the sale, the chief executive officer now owns 435,208 shares of the company's stock, valued at approximately $20,437,367.68. This represents a 15.28 % 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 Arturo Md Molina sold 1,906 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 224,066 shares of company stock valued at $10,321,738 over the last quarter. Company insiders own 5.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PTGX shares. HC Wainwright reiterated a "buy" rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday. Wedbush reissued an "outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Truist Financial initiated coverage on Protagonist Therapeutics in a report on Monday, September 9th. They issued a "buy" rating and a $60.00 target price on the stock. TD Cowen raised Protagonist Therapeutics to a "strong-buy" rating in a report on Wednesday, September 25th. Finally, BMO Capital Markets initiated coverage on Protagonist Therapeutics in a report on Friday. They issued an "outperform" rating and a $62.00 target price on the stock. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $53.78.

Protagonist Therapeutics Stock Up 2.7 %

PTGX stock traded up $1.10 on Tuesday, reaching $41.60. 444,708 shares of the company's stock were exchanged, compared to its average volume of 744,852. The stock has a fifty day moving average of $44.67 and a 200-day moving average of $40.32. Protagonist Therapeutics, Inc. has a twelve month low of $19.00 and a twelve month high of $48.89. The firm has a market cap of $2.48 billion, a PE ratio of 15.64 and a beta of 2.18.

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.