Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Bought by RTW Investments LP

RTW Investments LP boosted its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,426,112 shares of the company's stock after acquiring an additional 139,708 shares during the quarter. Protagonist Therapeutics comprises about 3.5% of RTW Investments LP's holdings, making the stock its 9th largest holding. RTW Investments LP owned approximately 9.10% of Protagonist Therapeutics worth $244,175,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 487 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Protagonist Therapeutics during the third quarter worth approximately $43,000. CWM LLC increased its stake in shares of Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company's stock worth $57,000 after buying an additional 1,147 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Protagonist Therapeutics in the third quarter valued at $69,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 acquiring an additional 379 shares during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush restated an "outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. HC Wainwright reaffirmed a "buy" rating and set a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. StockNews.com upgraded Protagonist Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. Truist Financial initiated coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They set a "buy" rating and a $60.00 price objective on the stock. Finally, JMP Securities lowered 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 research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $53.57.

Insider Buying and Selling

In related news, insider Suneel Gupta sold 103,437 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the transaction, the insider now directly owns 256,174 shares of the company's stock, valued at $11,794,250.96. This represents a 28.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.96, for a total value of $3,687,299.20. Following the completion of the sale, the chief executive officer now owns 435,208 shares in the company, valued at approximately $20,437,367.68. This represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,066 shares of company stock valued at $10,681,738 in the last quarter. Company insiders own 5.40% of the company's stock.

Protagonist Therapeutics Stock Up 2.7 %

PTGX stock traded up $1.10 during mid-day trading on Thursday, reaching $41.68. The company had a trading volume of 807,845 shares, compared to its average volume of 747,772. Protagonist Therapeutics, Inc. has a one year low of $19.00 and a one year high of $48.89. The stock has a market capitalization of $2.48 billion, a P/E ratio of 15.67 and a beta of 2.18. The stock's 50-day simple moving average is $44.81 and its two-hundred day simple moving average is $40.06.

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.