Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Position Reduced by Jane Street Group LLC

Jane Street Group LLC lowered its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 74.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,858 shares of the company's stock after selling 93,653 shares during the period. Jane Street Group LLC owned approximately 0.06% of Protagonist Therapeutics worth $1,479,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PTGX. Pacer Advisors Inc. increased its holdings in Protagonist Therapeutics by 405,061.2% during the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company's stock worth $78,034,000 after purchasing an additional 1,733,662 shares during the last quarter. State Street Corp increased its stake in shares of Protagonist Therapeutics by 52.9% in the third quarter. State Street Corp now owns 3,183,542 shares of the company's stock worth $143,259,000 after buying an additional 1,101,218 shares during the last quarter. Millennium Management LLC raised its holdings in Protagonist Therapeutics by 2,135.6% in the second 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 raised 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 valued at $43,962,000 after acquiring an additional 274,412 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Protagonist Therapeutics by 813.4% during the 2nd 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 during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, December 10th. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set an "outperform" rating and a $62.00 target price on the stock. The Goldman Sachs Group began coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They issued a "neutral" rating and a $47.00 target price for the company. Truist Financial began coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a "buy" rating and a $60.00 price target on the stock. Finally, Wedbush reaffirmed an "outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.78.

Protagonist Therapeutics Stock Performance

Shares of PTGX traded down $0.55 during midday trading on Friday, hitting $38.96. 469,797 shares of the stock traded hands, compared to its average volume of 744,288. The business's 50 day moving average price is $43.28 and its two-hundred day moving average price is $41.16. The firm has a market capitalization of $2.32 billion, a PE ratio of 14.65 and a beta of 2.18. Protagonist Therapeutics, Inc. has a 1-year low of $21.43 and a 1-year high of $48.89.

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 1,906 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $40.98, for a total value of $78,107.88. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the business'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 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 have sold a total of 209,863 shares of company stock worth $9,689,847 in the last ninety days. 5.40% of the stock is owned by insiders.

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.