41,818 Shares in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Acquired by Financial Enhancement Group LLC

Financial Enhancement Group LLC acquired a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,818 shares of the company’s stock, valued at approximately $1,882,000. Financial Enhancement Group LLC owned 0.07% of Protagonist Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farallon Capital Management LLC lifted its stake in shares of Protagonist Therapeutics by 1.8% in the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock valued at $202,383,000 after purchasing an additional 101,800 shares during the period. Vanguard Group Inc. boosted its position in shares of Protagonist Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after buying an additional 39,055 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 period. Millennium Management LLC raised its stake in 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 buying an additional 915,418 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Protagonist Therapeutics by 813.4% during the 2nd quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock valued at $10,307,000 after buying an additional 264,900 shares during the period. 98.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PTGX has been the topic of several research reports. JMP Securities dropped their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Truist Financial started coverage on Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. BTIG Research upped their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Monday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $53.57.

Protagonist Therapeutics Stock Performance

PTGX opened at $47.60 on Thursday. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 18.17 and a beta of 2.17. The company has a fifty day moving average of $45.36 and a 200 day moving average of $37.81. Protagonist Therapeutics, Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to the consensus estimate of $40.00 million. On average, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.46 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In related news, 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 value of $360,000.00. Following the sale, the director now owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the transaction, the chief financial officer now owns 34,960 shares of the company’s stock, valued at $1,555,370.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the transaction, the director now directly 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.