Cavalier Investments LLC Purchases New Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Cavalier Investments LLC bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 29,956 shares of the company's stock, valued at approximately $1,348,000. Cavalier Investments LLC owned approximately 0.05% of Protagonist Therapeutics at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PTGX. GAMMA Investing LLC grew its stake in 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 buying an additional 487 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Protagonist Therapeutics in the first quarter worth $35,000. Exchange Traded Concepts LLC bought a new position in Protagonist Therapeutics in the third quarter valued at $43,000. CWM LLC raised its position in Protagonist Therapeutics by 910.3% during the third quarter. CWM LLC now owns 1,273 shares of the company's stock valued at $57,000 after purchasing an additional 1,147 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Protagonist Therapeutics during the first quarter worth about $69,000. Institutional investors own 98.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PTGX. BTIG Research increased their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. JMP Securities decreased their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research note on Wednesday, August 7th. TD Cowen raised shares of Protagonist Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 25th. StockNews.com upgraded shares of Protagonist Therapeutics from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. Finally, HC Wainwright upped their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, September 12th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Protagonist Therapeutics currently has an average rating of "Buy" and a consensus price target of $49.86.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was 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 of the company's stock, valued at approximately $540,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William D. Waddill sold 8,000 shares of the business's 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 transaction, the director now directly owns 12,000 shares in the company, valued at $540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at $1,555,370.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company insiders.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX traded up $0.94 during trading hours on Monday, hitting $48.20. The company had a trading volume of 355,946 shares, compared to its average volume of 743,851. The stock has a 50-day moving average price of $44.52 and a 200 day moving average price of $36.71. The company has a market capitalization of $2.84 billion, a PE ratio of 18.51 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 52 week low of $13.76 and a 52 week high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, meeting analysts' consensus estimates of ($0.50). The business had revenue of $4.17 million for the quarter, compared to the consensus estimate of $40.00 million. Analysts anticipate that Protagonist Therapeutics, Inc. will post 2.32 EPS for the current fiscal year.

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.