33,615 Shares in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue acquired a new stake 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 firm acquired 33,615 shares of the company's stock, valued at approximately $1,512,000. State of Alaska Department of Revenue owned about 0.06% of Protagonist Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Protagonist Therapeutics by 749.2% during the third 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 bought a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at $43,000. Russell Investments Group Ltd. acquired a new stake in shares of Protagonist Therapeutics during the first quarter worth $35,000. CWM LLC lifted its holdings in Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company's stock valued at $57,000 after buying an additional 1,147 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted 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 valued at $95,000 after acquiring an additional 379 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PTGX shares. BTIG Research boosted their price objective on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. TD Cowen upgraded 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 report on Thursday, August 8th. Finally, Truist Financial began coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They set a "buy" rating and a $60.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $52.83.

Protagonist Therapeutics Trading Up 2.0 %

Shares of PTGX traded up $0.92 on Friday, reaching $46.76. The company's stock had a trading volume of 422,357 shares, compared to its average volume of 459,728. Protagonist Therapeutics, Inc. has a twelve month low of $14.78 and a twelve month high of $48.89. The stock has a market capitalization of $2.75 billion, a PE ratio of 17.85 and a beta of 2.17. The firm has a fifty day moving average of $45.09 and a 200-day moving average of $37.44.

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

Insiders Place Their Bets

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

Protagonist Therapeutics Company 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.