Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Bought by HighVista Strategies LLC

HighVista Strategies LLC raised its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 321.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 89,508 shares of the company's stock after buying an additional 68,279 shares during the period. Protagonist Therapeutics comprises about 1.4% of HighVista Strategies LLC's portfolio, making the stock its 12th largest holding. HighVista Strategies LLC owned approximately 0.15% of Protagonist Therapeutics worth $4,028,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PTGX. Mirae Asset Global Investments Co. Ltd. lifted its position in Protagonist Therapeutics by 21.6% during the third 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of Protagonist Therapeutics by 749.2% in 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 last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Protagonist Therapeutics during the 3rd quarter worth $43,000. CWM LLC boosted its position 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 acquiring an additional 1,147 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of 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 purchasing an additional 1,359 shares during the period. Hedge funds and other institutional investors own 98.63% of the company's stock.

Insider Buying and Selling

In related news, insider Suneel Gupta sold 103,437 shares of Protagonist Therapeutics stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the transaction, the insider now directly owns 256,174 shares in the company, valued at $11,794,250.96. This trade represents a 28.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $40.98, for a total transaction of $78,107.88. Following the transaction, the insider now owns 46,444 shares of the company's stock, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,066 shares of company stock worth $10,681,738 in the last 90 days. Company insiders own 5.40% of the company's stock.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX traded down $2.01 on Tuesday, reaching $41.25. The stock had a trading volume of 680,788 shares, compared to its average volume of 747,656. The stock has a market cap of $2.46 billion, a P/E ratio of 15.48 and a beta of 2.18. Protagonist Therapeutics, Inc. has a 12-month low of $18.07 and a 12-month high of $48.89. The business's 50-day moving average price is $45.09 and its 200 day moving average price is $39.97.

Wall Street Analyst Weigh In

PTGX has been the topic of several recent analyst reports. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a "buy" rating and a $60.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Wedbush restated an "outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. JMP Securities lowered their price target 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. Finally, StockNews.com raised shares of Protagonist Therapeutics from a "hold" rating to a "buy" rating in a research note 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target 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.