Louisiana State Employees Retirement System Makes New Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Louisiana State Employees Retirement System bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,500 shares of the company's stock, valued at approximately $1,282,000.

Other hedge funds have also modified their holdings of the company. Everence Capital Management Inc. purchased a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at about $317,000. Allspring Global Investments Holdings LLC grew its position in Protagonist Therapeutics by 24,162.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 103,842 shares of the company's stock worth $4,673,000 after buying an additional 103,414 shares during the period. Bleakley Financial Group LLC purchased a new position in Protagonist Therapeutics in the third quarter valued at about $316,000. Swedbank AB acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at approximately $2,250,000. Finally, Creative Planning purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $338,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BTIG Research lifted their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Truist Financial began coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They set a "buy" rating and a $60.00 price target for the company. HC Wainwright increased their price objective on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. JMP Securities dropped their target price on shares of 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, TD Cowen raised shares of Protagonist Therapeutics to a "strong-buy" rating in a report on Wednesday, September 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $52.83.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics 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 owns 12,000 shares in the company, valued at $540,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the transaction, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Waddill sold 8,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the sale, 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 disclosure for this sale can be found here. Insiders own 5.40% of the company's stock.

Protagonist Therapeutics Trading Up 2.0 %

Shares of NASDAQ PTGX traded up $0.92 during midday trading on Friday, reaching $46.76. 422,357 shares of the stock were exchanged, compared to its average volume of 459,728. The stock has a 50 day moving average price of $45.09 and a 200-day moving average price of $37.36. The company has a market capitalization of $2.75 billion, a P/E ratio of 17.85 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 52-week low of $14.78 and a 52-week high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analysts' expectations of $40.00 million. On average, analysts forecast that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current 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.