Public Sector Pension Investment Board Invests $5.62 Million in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Public Sector Pension Investment Board bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 124,949 shares of the company's stock, valued at approximately $5,623,000. Public Sector Pension Investment Board owned approximately 0.21% of Protagonist Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Protagonist Therapeutics by 448.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,294 shares of the company's stock valued at $913,000 after purchasing an additional 16,597 shares during the period. FMR LLC boosted its stake in shares of Protagonist Therapeutics by 4.5% during the third quarter. FMR LLC now owns 454,196 shares of the company's stock valued at $20,439,000 after purchasing an additional 19,737 shares during the period. Advantage Alpha Capital Partners LP bought a new position in shares of Protagonist Therapeutics during the 3rd quarter worth $510,000. The Manufacturers Life Insurance Company raised its holdings in Protagonist Therapeutics by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 115,765 shares of the company's stock worth $5,209,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Protagonist Therapeutics during the third quarter worth about $69,000. Institutional investors own 98.63% of the company's stock.

Insider Buying and Selling

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction on Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suneel Gupta sold 103,437 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the completion of the transaction, the insider now directly owns 256,174 shares in the company, valued at $11,794,250.96. This trade represents a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 232,066 shares of company stock worth $10,681,738. 5.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PTGX shares. HC Wainwright reaffirmed a "buy" rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. StockNews.com raised shares of Protagonist Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. JMP Securities lowered their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating for the company in a research note on Wednesday, August 7th. Truist Financial began coverage on Protagonist Therapeutics in a report on Monday, September 9th. They set a "buy" rating and a $60.00 target price on the stock. Finally, Wedbush reiterated an "outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Seven 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.com, Protagonist Therapeutics currently has an average rating of "Buy" and an average price target of $53.57.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ PTGX traded down $0.54 during mid-day trading on Monday, hitting $43.26. 568,588 shares of the stock traded hands, compared to its average volume of 747,944. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 16.26 and a beta of 2.17. The stock has a fifty day moving average price of $45.09 and a 200-day moving average price of $39.97. Protagonist Therapeutics, Inc. has a 52 week low of $18.07 and a 52 week high of $48.89.

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.