Swedbank AB Takes $2.25 Million Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Swedbank AB acquired a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 50,000 shares of the company’s stock, valued at approximately $2,250,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cerity Partners LLC lifted its holdings in shares of Protagonist Therapeutics by 26.7% during the 3rd quarter. Cerity Partners LLC now owns 14,241 shares of the company’s stock valued at $641,000 after purchasing an additional 3,005 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Protagonist Therapeutics by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock worth $25,448,000 after acquiring an additional 39,850 shares during the last quarter. Pacer Advisors Inc. raised its stake in Protagonist Therapeutics by 405,061.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after acquiring an additional 1,733,662 shares during the last quarter. Intech Investment Management LLC purchased a new position in Protagonist Therapeutics in the 3rd quarter worth $861,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Protagonist Therapeutics in the 3rd quarter worth $5,665,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Up 0.3 %

NASDAQ:PTGX opened at $44.95 on Thursday. Protagonist Therapeutics, Inc. has a 52 week low of $17.13 and a 52 week high of $48.89. The stock has a market capitalization of $2.68 billion, a PE ratio of 16.90 and a beta of 2.17. The stock’s 50-day moving average price is $45.24 and its 200-day moving average price is $39.62.

Insider Activity

In other news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 435,208 shares in the company, valued at $20,437,367.68. This trade represents a 15.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suneel Gupta sold 103,437 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the sale, the insider now owns 256,174 shares in the company, valued at $11,794,250.96. This trade represents a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,066 shares of company stock worth $10,681,738 in the last ninety days. Company insiders own 5.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PTGX. JMP Securities reduced their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Wedbush restated an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Truist Financial assumed coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.