Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stake Raised by Algert Global LLC

Algert Global LLC grew its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 152,079 shares of the company’s stock after purchasing an additional 4,236 shares during the period. Algert Global LLC owned approximately 0.26% of Protagonist Therapeutics worth $5,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PTGX. Hennion & Walsh Asset Management Inc. boosted its holdings in Protagonist Therapeutics by 2.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 34,895 shares of the company’s stock worth $1,010,000 after buying an additional 849 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Protagonist Therapeutics by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock worth $415,000 after acquiring an additional 1,206 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Protagonist Therapeutics in the 1st quarter worth $35,000. Lazard Asset Management LLC acquired a new position in shares of Protagonist Therapeutics in the 1st quarter worth $69,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Protagonist Therapeutics by 74.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after purchasing an additional 3,870 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Down 0.8 %

Shares of NASDAQ:PTGX opened at $44.56 on Monday. Protagonist Therapeutics, Inc. has a 12-month low of $13.72 and a 12-month high of $48.00. The firm has a fifty day moving average of $41.76 and a two-hundred day moving average of $34.26. The firm has a market capitalization of $2.62 billion, a P/E ratio of 18.26 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. Equities research analysts expect that Protagonist Therapeutics, Inc. will post 2.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred on 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 sale, the director now directly owns 12,000 shares in the company, valued at $540,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total transaction of $360,000.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $540,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,203 shares of company stock worth $1,311,891. Insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

PTGX has been the topic of a number of analyst reports. HC Wainwright lifted their price target on Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. BTIG Research raised their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JMP Securities cut their target price on shares of 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. JPMorgan Chase & Co. raised their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $49.86.

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.