Thrivent Financial for Lutherans Invests $2.08 Million in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Thrivent Financial for Lutherans 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 46,257 shares of the company's stock, valued at approximately $2,082,000. Thrivent Financial for Lutherans owned 0.08% of Protagonist Therapeutics at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in 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 during the period. Russell Investments Group Ltd. acquired a new stake in Protagonist Therapeutics during the 1st quarter valued at $35,000. Exchange Traded Concepts LLC purchased a new stake in Protagonist Therapeutics during the 3rd quarter worth $43,000. CWM LLC lifted its holdings in Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company's stock worth $57,000 after buying an additional 1,147 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Protagonist Therapeutics in the 1st quarter valued at about $69,000. Institutional investors and hedge funds own 98.63% of the company's stock.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the transaction, the chief executive officer now directly owns 435,208 shares in the company, valued at approximately $20,437,367.68. The trade was a 15.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William D. Waddill sold 8,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value 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. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,066 shares of company stock valued at $10,681,738. 5.40% of the stock is currently owned by insiders.

Protagonist Therapeutics Trading Down 2.6 %

Protagonist Therapeutics stock traded down $1.15 during mid-day trading on Friday, reaching $43.80. The company's stock had a trading volume of 320,206 shares, compared to its average volume of 748,721. Protagonist Therapeutics, Inc. has a twelve month low of $17.70 and a twelve month high of $48.89. The business has a 50 day moving average price of $45.22 and a 200-day moving average price of $39.66. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 16.47 and a beta of 2.17.

Wall Street Analyst Weigh In

PTGX has been the topic of several recent analyst reports. JMP Securities cut their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research note on Wednesday, August 7th. Wedbush reaffirmed an "outperform" rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. HC Wainwright reissued a "buy" rating and set a $50.00 price target on shares of Protagonist Therapeutics in a research report 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. Finally, TD Cowen raised shares of Protagonist Therapeutics to a "strong-buy" rating in a report on Wednesday, September 25th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Protagonist Therapeutics currently has an average rating of "Buy" and a consensus price target of $53.57.

About Protagonist Therapeutics

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.