Millennium Management LLC lifted its stake in shares of Protagonist Therapeutics Inc (NASDAQ:PTGX) by 68.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 837,892 shares of the company’s stock after purchasing an additional 340,892 shares during the period. Millennium Management LLC owned about 3.08% of Protagonist Therapeutics worth $10,063,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in PTGX. Point72 Asset Management L.P. acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth about $1,952,000. California State Teachers Retirement System increased its stake in Protagonist Therapeutics by 13.7% during the 3rd quarter. California State Teachers Retirement System now owns 26,542 shares of the company’s stock worth $319,000 after buying an additional 3,195 shares in the last quarter. State Street Corp increased its stake in Protagonist Therapeutics by 19.9% during the 3rd quarter. State Street Corp now owns 315,043 shares of the company’s stock worth $3,784,000 after buying an additional 52,333 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Protagonist Therapeutics during the 3rd quarter worth approximately $926,000. Finally, Rhumbline Advisers raised its holdings in shares of Protagonist Therapeutics by 20.7% during the third quarter. Rhumbline Advisers now owns 15,540 shares of the company’s stock valued at $187,000 after acquiring an additional 2,662 shares during the last quarter. 69.62% of the stock is owned by institutional investors and hedge funds.
PTGX opened at $7.69 on Friday. Protagonist Therapeutics Inc has a twelve month low of $4.47 and a twelve month high of $16.67. The firm has a market capitalization of $209.21 million, a PE ratio of -4.42 and a beta of 1.52. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $10.59 and its 200 day moving average price is $11.75.
Several equities analysts have recently weighed in on PTGX shares. Zacks Investment Research downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday. ValuEngine upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Svb Leerink reissued an “outperform” rating on shares of Protagonist Therapeutics in a research note on Tuesday, August 13th. Nomura restated a “buy” rating and issued a $29.00 price objective on shares of Protagonist Therapeutics in a report on Sunday, August 11th. Finally, BidaskClub lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.60.
In related news, Director Bryan Giraudo acquired 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average price of $5.70 per share, for a total transaction of $45,600.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $57,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Suneel Gupta acquired 30,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $5.13 per share, for a total transaction of $153,900.00. Following the purchase, the executive vice president now directly owns 389,824 shares of the company’s stock, valued at approximately $1,999,797.12. The disclosure for this purchase can be found here. Insiders bought 39,175 shares of company stock valued at $205,493 over the last 90 days. Company insiders own 14.20% of the company’s stock.
About Protagonist Therapeutics
Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.
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