Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock Position Decreased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 89.1% during the third quarter, Holdings Channel reports. The firm owned 5,251 shares of the company’s stock after selling 42,876 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Protagonist Therapeutics were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PTGX. XTX Topco Ltd acquired a new position in shares of Protagonist Therapeutics in the third quarter worth about $666,000. Wellington Management Group LLP purchased a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at approximately $1,354,000. Weiss Asset Management LP acquired a new position in Protagonist Therapeutics in the 3rd quarter worth approximately $2,811,000. State Street Corp grew its position in Protagonist Therapeutics by 52.9% during the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after purchasing an additional 1,101,218 shares in the last quarter. Finally, RTW Investments LP raised its stake in Protagonist Therapeutics by 2.6% during the 3rd quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock valued at $244,175,000 after purchasing an additional 139,708 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Analysts Set New Price Targets

PTGX has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set a “neutral” rating and a $47.00 price target on the stock. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, December 10th. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Wedbush reiterated an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $53.78.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Suneel Gupta sold 103,437 shares of the company’s 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 directly owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. This represents a 28.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $40.98, for a total transaction of $78,107.88. Following the sale, the insider now directly owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,863 shares of company stock valued at $9,689,847. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Stock Down 4.1 %

NASDAQ:PTGX opened at $39.02 on Thursday. The firm has a 50-day moving average price of $44.17 and a 200 day moving average price of $40.81. The firm has a market capitalization of $2.33 billion, a PE ratio of 14.67 and a beta of 2.18. Protagonist Therapeutics, Inc. has a 12-month low of $20.71 and a 12-month high of $48.89.

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.