Walleye Capital LLC Makes New Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Walleye Capital LLC acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 105,335 shares of the company's stock, valued at approximately $4,740,000. Walleye Capital LLC owned approximately 0.18% of Protagonist Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its position in shares of Protagonist Therapeutics by 405,061.2% during the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company's stock worth $78,034,000 after purchasing an additional 1,733,662 shares in the last quarter. Millennium Management LLC raised its position in Protagonist Therapeutics by 2,135.6% in the 2nd quarter. Millennium Management LLC now owns 958,283 shares of the company's stock valued at $33,205,000 after purchasing an additional 915,418 shares in the last quarter. Perceptive Advisors LLC raised its position in Protagonist Therapeutics by 27.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company's stock valued at $43,962,000 after purchasing an additional 274,412 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Protagonist Therapeutics by 813.4% in the 2nd quarter. Renaissance Technologies LLC now owns 297,467 shares of the company's stock valued at $10,307,000 after acquiring an additional 264,900 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Protagonist Therapeutics during the 2nd quarter worth approximately $5,467,000. Hedge funds and other institutional investors own 98.63% of the company's stock.

Insider Buying and Selling

In other news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the sale, the chief executive officer now owns 435,208 shares of the company's stock, valued at approximately $20,437,367.68. This represents a 15.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suneel Gupta sold 103,437 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 owns 256,174 shares in the company, valued at $11,794,250.96. This represents a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,066 shares of company stock worth $10,681,738 in the last three months. Corporate insiders own 5.40% of the company's stock.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock traded down $0.54 during trading on Monday, hitting $43.26. The stock had a trading volume of 568,588 shares, compared to its average volume of 747,944. The firm's fifty day simple moving average is $45.09 and its 200-day simple moving average is $39.97. The stock has a market cap of $2.58 billion, a PE ratio of 16.26 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 12 month low of $18.07 and a 12 month high of $48.89.

Analysts Set New Price Targets

PTGX has been the subject of a number of analyst reports. HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Truist Financial assumed coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They issued a "buy" rating and a $60.00 target price for the company. TD Cowen raised shares of Protagonist Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 25th. JMP Securities decreased their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a "market outperform" rating on the stock in a research report on Wednesday, August 7th. Finally, Wedbush reissued an "outperform" rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Protagonist Therapeutics has an average rating of "Buy" and an average target price of $53.57.

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.