Point72 Europe London LLP Makes New Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Point72 Europe London LLP bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 45,317 shares of the company’s stock, valued at approximately $2,039,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. lifted its position in Protagonist Therapeutics by 405,061.2% in the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock valued at $78,034,000 after purchasing an additional 1,733,662 shares during the period. Millennium Management LLC raised its stake in shares of Protagonist Therapeutics by 2,135.6% during the 2nd quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock worth $33,205,000 after buying an additional 915,418 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in shares of 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 buying an additional 274,412 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Protagonist Therapeutics by 813.4% in the second quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock valued at $10,307,000 after buying an additional 264,900 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Protagonist Therapeutics during the second quarter worth $5,467,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insider Buying and Selling at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $540,000. The trade was a 40.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,066 shares of company stock worth $10,681,738. 5.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PTGX shares. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Wedbush reissued an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. 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. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, JMP Securities decreased their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 7th. 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 data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $53.57.

Protagonist Therapeutics Price Performance

PTGX stock opened at $43.80 on Friday. The company’s 50 day simple moving average is $45.15 and its 200-day simple moving average is $39.76. Protagonist Therapeutics, Inc. has a 12 month low of $17.70 and a 12 month high of $48.89. The firm has a market capitalization of $2.61 billion, a PE ratio of 16.47 and a beta of 2.17.

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.