Janney Montgomery Scott LLC Makes New $866,000 Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Janney Montgomery Scott LLC bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 19,249 shares of the company's stock, valued at approximately $866,000.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company's stock worth $25,000 after purchasing an additional 487 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Protagonist Therapeutics in the third quarter worth approximately $43,000. Russell Investments Group Ltd. bought a new stake in shares of Protagonist Therapeutics during the 1st quarter worth approximately $35,000. CWM LLC boosted its holdings in 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 period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Protagonist Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company's stock valued at $95,000 after acquiring an additional 379 shares during the last quarter. Institutional investors own 98.63% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PTGX. TD Cowen upgraded Protagonist Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an "overweight" rating in a research report on Thursday, July 25th. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a "buy" rating and a $60.00 target price on the stock. 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, Wedbush reissued an "outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, November 4th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Protagonist Therapeutics has an average rating of "Buy" and a consensus price target of $53.57.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX traded up $0.07 during trading hours on Friday, reaching $41.11. The company's stock had a trading volume of 1,086,776 shares, compared to its average volume of 504,820. The stock has a 50 day moving average price of $45.63 and a two-hundred day moving average price of $38.71. The company has a market capitalization of $2.45 billion, a P/E ratio of 15.45 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 12 month low of $15.58 and a 12 month high of $48.89.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares in the company, valued at approximately $540,000. This trade represents a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company's stock.

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.