Protagonist Therapeutics, Inc. $PTGX Stake Boosted by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 228,146 shares of the company’s stock after buying an additional 16,865 shares during the period. Public Sector Pension Investment Board owned about 0.37% of Protagonist Therapeutics worth $15,156,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BVF Inc. IL raised its holdings in shares of Protagonist Therapeutics by 24.7% during the second quarter. BVF Inc. IL now owns 3,211,041 shares of the company’s stock valued at $177,474,000 after acquiring an additional 636,026 shares during the period. State Street Corp lifted its position in shares of Protagonist Therapeutics by 18.5% in the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock valued at $177,281,000 after acquiring an additional 500,924 shares in the last quarter. Geode Capital Management LLC boosted its stake in Protagonist Therapeutics by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,444,230 shares of the company’s stock worth $79,833,000 after purchasing an additional 20,671 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Protagonist Therapeutics by 218.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,092,262 shares of the company’s stock worth $60,369,000 after purchasing an additional 748,758 shares during the period. Finally, Commodore Capital LP purchased a new position in Protagonist Therapeutics during the 2nd quarter worth approximately $59,415,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $82.00, for a total value of $410,000.00. Following the completion of the sale, the insider directly owned 84,115 shares of the company’s stock, valued at $6,897,430. The trade was a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 4,068 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $83.19, for a total transaction of $338,416.92. Following the transaction, the chief executive officer owned 574,505 shares in the company, valued at $47,793,070.95. This represents a 0.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 185,167 shares of company stock valued at $15,405,639 over the last three months. 4.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PTGX shares. Weiss Ratings upgraded Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, December 24th. Wedbush upped their price target on Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Citigroup increased their price objective on Protagonist Therapeutics from $98.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. BTIG Research restated a “buy” rating and set a $82.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. Finally, Citizens Jmp upped their target price on Protagonist Therapeutics from $69.00 to $102.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.64.

Protagonist Therapeutics Trading Down 0.5%

PTGX opened at $81.49 on Friday. The stock has a fifty day moving average price of $85.26 and a 200 day moving average price of $74.78. Protagonist Therapeutics, Inc. has a 1 year low of $33.70 and a 1 year high of $96.54. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 131.44 and a beta of 2.26.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.