Los Angeles Capital Management LLC Sells 8,381 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Los Angeles Capital Management LLC reduced its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 27.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,446 shares of the company’s stock after selling 8,381 shares during the period. Los Angeles Capital Management LLC’s holdings in Protagonist Therapeutics were worth $1,010,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PTGX. Millennium Management LLC boosted its position 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 valued at $33,205,000 after acquiring an additional 915,418 shares during the last quarter. Perceptive Advisors LLC lifted its position in Protagonist Therapeutics by 27.6% during the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock valued at $43,962,000 after purchasing an additional 274,412 shares during the last quarter. Renaissance Technologies LLC lifted its position in Protagonist Therapeutics by 813.4% during the second quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock valued at $10,307,000 after purchasing an additional 264,900 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Protagonist Therapeutics in the 2nd quarter worth $5,467,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Protagonist Therapeutics by 24,162.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 103,842 shares of the company’s stock worth $4,673,000 after buying an additional 103,414 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

PTGX stock opened at $41.11 on Friday. Protagonist Therapeutics, Inc. has a 12 month low of $15.58 and a 12 month high of $48.89. The firm’s 50-day moving average is $45.64 and its 200 day moving average is $38.50. The company has a market capitalization of $2.45 billion, a PE ratio of 15.45 and a beta of 2.17.

Insiders Place Their Bets

In related news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, September 10th. The stock was 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 trade was a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction, the chief financial officer now owns 34,960 shares in the company, valued at approximately $1,555,370.40. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, November 4th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. BTIG Research increased their target price on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Protagonist Therapeutics in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a 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. According to data from MarketBeat, Protagonist Therapeutics has an average rating of “Buy” and an average price target of $53.57.

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.