Janney Montgomery Scott LLC Acquires New Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Janney Montgomery Scott LLC acquired a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 19,249 shares of the company’s stock, valued at approximately $866,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PTGX. Sei Investments Co. grew its holdings in Protagonist Therapeutics by 12.2% during the 1st quarter. Sei Investments Co. now owns 41,758 shares of the company’s stock worth $1,208,000 after acquiring an additional 4,529 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Protagonist Therapeutics during the first quarter valued at approximately $35,000. ProShare Advisors LLC increased its holdings in Protagonist Therapeutics by 9.2% during the first quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock valued at $415,000 after buying an additional 1,206 shares during the period. Vanguard Group Inc. raised its stake in Protagonist Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after buying an additional 39,055 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new stake in Protagonist Therapeutics during the first quarter worth $202,000. 98.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the sale, 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 28.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics 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 transaction, the director now owns 12,000 shares of the company’s stock, valued at $540,000. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PTGX. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. JMP Securities reduced their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Monday, November 4th. Truist Financial started coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $53.57.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $41.11 on Friday. The stock has a 50-day moving average of $45.63 and a two-hundred day moving average of $38.61. The stock has a market cap of $2.45 billion, a P/E ratio of 15.45 and a beta of 2.17. Protagonist Therapeutics, Inc. has a one year low of $15.58 and a one year high of $48.89.

Protagonist Therapeutics Company 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.