Exchange Traded Concepts LLC Takes Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Exchange Traded Concepts LLC purchased a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the third quarter, Holdings Channel.com reports. The fund purchased 961 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its position in Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after acquiring an additional 487 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Protagonist Therapeutics in the 1st quarter valued at approximately $35,000. CWM LLC grew its holdings in shares of Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Protagonist Therapeutics during the 1st quarter worth approximately $69,000. Finally, Point72 DIFC Ltd acquired a new position in Protagonist Therapeutics during the 2nd quarter worth approximately $153,000. 98.63% of the stock is currently owned by institutional investors.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $46.59 on Thursday. Protagonist Therapeutics, Inc. has a one year low of $13.72 and a one year high of $48.32. The business’s 50 day simple moving average is $44.27 and its 200 day simple moving average is $36.39. The stock has a market capitalization of $2.74 billion, a PE ratio of 17.78 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to the consensus estimate of $40.00 million. As a group, research analysts expect that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PTGX shares. JPMorgan Chase & Co. boosted their target price on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. HC Wainwright lifted their price target on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, Truist Financial started coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $49.86.

Insider Buying and Selling at Protagonist Therapeutics

In other news, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William D. Waddill sold 8,000 shares of the business’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 $540,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

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.