Weiss Asset Management LP Makes New $2.81 Million Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Weiss Asset Management LP acquired a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 62,463 shares of the company's stock, valued at approximately $2,811,000. Weiss Asset Management LP owned about 0.10% of Protagonist Therapeutics at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Protagonist Therapeutics by 52.9% during the third quarter. State Street Corp now owns 3,183,542 shares of the company's stock valued at $143,259,000 after purchasing an additional 1,101,218 shares in the last quarter. RTW Investments LP lifted its position in shares of Protagonist Therapeutics by 2.6% during the third quarter. RTW Investments LP now owns 5,426,112 shares of the company's stock valued at $244,175,000 after purchasing an additional 139,708 shares in the last quarter. HighVista Strategies LLC lifted its position in shares of Protagonist Therapeutics by 321.6% during the third quarter. HighVista Strategies LLC now owns 89,508 shares of the company's stock valued at $4,028,000 after purchasing an additional 68,279 shares in the last quarter. Point72 Europe London LLP bought a new position in shares of Protagonist Therapeutics during the third quarter valued at about $2,039,000. Finally, Walleye Capital LLC bought a new position in shares of Protagonist Therapeutics during the third quarter valued at about $4,740,000. 98.63% of the stock is owned by institutional investors.

Protagonist Therapeutics Price Performance

Shares of PTGX traded up $0.38 during trading hours on Friday, hitting $42.06. The company's stock had a trading volume of 543,409 shares, compared to its average volume of 821,530. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 15.81 and a beta of 2.18. The business has a 50 day simple moving average of $44.76 and a two-hundred day simple moving average of $40.19. Protagonist Therapeutics, Inc. has a 52-week low of $19.00 and a 52-week high of $48.89.

Insider Transactions at Protagonist Therapeutics

In related 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 shares were 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 owns 435,208 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arturo Md Molina sold 1,906 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the transaction, the insider now directly owns 46,444 shares of the company's stock, valued at approximately $1,903,275.12. This represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,066 shares of company stock worth $10,681,738 over the last quarter. Corporate insiders own 5.40% of the company's stock.

Wall Street Analyst Weigh In

PTGX has been the topic of several research reports. Wedbush reaffirmed an "outperform" rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. TD Cowen raised shares of Protagonist Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 25th. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Protagonist Therapeutics in a research report on Friday. They issued a "neutral" rating and a $47.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Protagonist Therapeutics currently has an average rating of "Buy" and a consensus price target of $53.78.

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.