Pacer Advisors Inc. Raises Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Pacer Advisors Inc. grew its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 405,061.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,734,090 shares of the company’s stock after acquiring an additional 1,733,662 shares during the quarter. Pacer Advisors Inc. owned 2.94% of Protagonist Therapeutics worth $78,034,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Protagonist Therapeutics by 749.2% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after purchasing an additional 487 shares during the period. Russell Investments Group Ltd. bought a new stake in Protagonist Therapeutics during the 1st quarter valued at approximately $35,000. Exchange Traded Concepts LLC purchased a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $43,000. CWM LLC lifted its stake in shares of Protagonist Therapeutics by 910.3% in 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 period. Finally, Lazard Asset Management LLC bought a new stake in shares of Protagonist Therapeutics during the first quarter valued at approximately $69,000. 98.63% of the stock is currently owned by institutional investors.

Insider Transactions at Protagonist Therapeutics

In other news, insider Arturo Md Molina sold 1,906 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the sale, the insider now directly owns 46,444 shares in the company, valued at approximately $1,903,275.12. This represents a 3.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 12,000 shares of the company’s stock, valued at $540,000. This trade represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,109 shares of company stock worth $1,069,999 in the last 90 days. 5.40% of the stock is currently owned by insiders.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $41.65 on Friday. Protagonist Therapeutics, Inc. has a fifty-two week low of $16.80 and a fifty-two week high of $48.89. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 15.66 and a beta of 2.17. The business’s 50-day moving average is $45.34 and its two-hundred day moving average is $39.00.

Analysts Set New Price Targets

Several brokerages recently issued reports on PTGX. Wedbush reiterated an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday. JMP Securities reduced their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday. Finally, StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $53.57.

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.