Pacer Advisors Inc. Increases Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Pacer Advisors Inc. increased its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 405,061.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,734,090 shares of the company's stock after buying an additional 1,733,662 shares during the quarter. Pacer Advisors Inc. owned about 2.94% of Protagonist Therapeutics worth $78,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company's stock worth $25,000 after acquiring an additional 487 shares during the period. Exchange Traded Concepts LLC purchased a new position in Protagonist Therapeutics during the third quarter worth about $43,000. Russell Investments Group Ltd. purchased a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at approximately $35,000. CWM LLC grew its stake in shares of Protagonist Therapeutics by 910.3% in the 3rd 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. raised its position in shares of Protagonist Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company's stock valued at $95,000 after buying an additional 379 shares during the period. Institutional investors and hedge funds own 98.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com raised Protagonist Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday, August 8th. HC Wainwright reiterated a "buy" rating and set a $50.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday. Wedbush reaffirmed an "outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday. JMP Securities cut their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research report on Wednesday, August 7th. Finally, Truist Financial initiated coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a "buy" rating and a $60.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of "Buy" and an average target price of $53.57.

Insider Buying and Selling at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company's stock, valued at approximately $540,000. This represents a 40.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Arturo Md Molina sold 1,906 shares of the business'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 owns 46,444 shares of the company's stock, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,109 shares of company stock valued at $1,069,999 in the last quarter. Corporate insiders own 5.40% of the company's stock.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX traded up $4.81 during trading on Friday, hitting $46.46. The company's stock had a trading volume of 1,322,088 shares, compared to its average volume of 749,125. Protagonist Therapeutics, Inc. has a fifty-two week low of $16.80 and a fifty-two week high of $48.89. The business has a 50 day moving average price of $45.26 and a two-hundred day moving average price of $39.02. The company has a market capitalization of $2.77 billion, a PE ratio of 17.82 and a beta of 2.17.

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.