Point72 Asset Management L.P. Sells 694,862 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Point72 Asset Management L.P. decreased its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 76.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 214,872 shares of the company's stock after selling 694,862 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.36% of Protagonist Therapeutics worth $9,669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 487 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Protagonist Therapeutics in the third quarter worth about $43,000. CWM LLC increased its stake in shares of 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. Harvest Fund Management Co. Ltd purchased a new position in shares of Protagonist Therapeutics during the third quarter valued at approximately $69,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 worth $95,000 after purchasing an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PTGX. The Goldman Sachs Group initiated coverage on Protagonist Therapeutics in a research note on Friday. They set a "neutral" rating and a $47.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Wedbush restated an "outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Truist Financial began coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a "buy" rating and a $60.00 target price for the company. Finally, TD Cowen raised shares of Protagonist Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $53.78.

Protagonist Therapeutics Trading Up 0.9 %

NASDAQ:PTGX traded up $0.38 during trading hours on Friday, reaching $42.06. The company had a trading volume of 543,409 shares, compared to its average volume of 821,530. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 15.81 and a beta of 2.18. The firm's 50 day moving average price is $44.76 and its 200-day moving average price is $40.25. Protagonist Therapeutics, Inc. has a 52 week low of $19.00 and a 52 week high of $48.89.

Insider Buying and Selling

In other news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction on 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 owns 12,000 shares in the company, valued at $540,000. This trade represents a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Arturo Md Molina sold 1,906 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the sale, the insider now directly 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 sold 232,066 shares of company stock valued at $10,681,738 over the last 90 days. Company 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.