State Street Corp Boosts Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

State Street Corp boosted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) by 52.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,183,542 shares of the company's stock after buying an additional 1,101,218 shares during the quarter. State Street Corp owned approximately 5.34% of Protagonist Therapeutics worth $143,259,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company's stock valued at $25,000 after acquiring an additional 487 shares during the period. Exchange Traded Concepts LLC purchased a new position in Protagonist Therapeutics in the third quarter valued at approximately $43,000. CWM LLC lifted its stake 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 purchasing an additional 1,147 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Protagonist Therapeutics during the third quarter valued at $69,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Protagonist Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company's stock worth $95,000 after buying an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock traded up $0.70 during midday trading on Friday, reaching $41.08. 530,558 shares of the stock were exchanged, compared to its average volume of 743,232. Protagonist Therapeutics, Inc. has a 52 week low of $20.10 and a 52 week high of $48.89. The firm has a market cap of $2.45 billion, a PE ratio of 15.44 and a beta of 2.18. The company's fifty day moving average is $44.39 and its 200-day moving average is $40.48.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. HC Wainwright reaffirmed a "buy" rating and set a $50.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday. TD Cowen raised shares of Protagonist Therapeutics to a "strong-buy" rating in a report on Wednesday, September 25th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a "buy" rating and a $60.00 target price for the company. StockNews.com cut shares of Protagonist Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They issued an "outperform" rating and a $62.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Protagonist Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $53.78.

Insider Activity

In related news, 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 sale, the chief executive officer now directly owns 435,208 shares of the company's stock, valued at $20,437,367.68. This trade represents a 15.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Arturo Md Molina sold 26,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the sale, the insider now owns 46,444 shares of the company's stock, valued at approximately $2,076,046.80. The trade was a 35.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,863 shares of company stock worth $9,689,847 in the last three months. Corporate 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.