Wellington Management Group LLP Makes New $1.35 Million Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Wellington Management Group LLP acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,079 shares of the company's stock, valued at approximately $1,354,000. Wellington Management Group LLP owned approximately 0.05% of Protagonist Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company's stock valued at $25,000 after acquiring an additional 487 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Protagonist Therapeutics during the third quarter valued at about $43,000. CWM LLC grew its position in shares of Protagonist Therapeutics by 910.3% during 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 in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Protagonist Therapeutics in the third quarter worth about $69,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 in the last quarter. Institutional investors own 98.63% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. TD Cowen upgraded Protagonist Therapeutics to a "strong-buy" rating in a report on Wednesday, September 25th. Wedbush restated an "outperform" rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. StockNews.com downgraded shares of Protagonist Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, December 10th. HC Wainwright reissued a "buy" rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, December 10th. Finally, Truist Financial assumed coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a "buy" rating and a $60.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $53.78.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX traded up $1.95 during trading on Friday, hitting $41.49. The stock had a trading volume of 2,360,707 shares, compared to its average volume of 748,240. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 15.60 and a beta of 2.18. The stock has a 50 day simple moving average of $44.09 and a 200 day simple moving average of $40.80. Protagonist Therapeutics, Inc. has a one year low of $20.88 and a one year high of $48.89.

Insider Buying and Selling

In related news, insider Arturo Md Molina sold 26,000 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the transaction, the insider now owns 46,444 shares of the company's stock, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Suneel Gupta sold 103,437 shares of Protagonist Therapeutics stock in a transaction dated 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 sale, the insider now owns 256,174 shares of the company's stock, valued at $11,794,250.96. The trade was a 28.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 209,863 shares of company stock valued at $9,689,847. Insiders own 5.40% of the company's stock.

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.