HighVista Strategies LLC Boosts Stock Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

HighVista Strategies LLC boosted its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 321.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,508 shares of the company’s stock after purchasing an additional 68,279 shares during the period. Protagonist Therapeutics comprises approximately 1.4% of HighVista Strategies LLC’s holdings, making the stock its 12th largest position. HighVista Strategies LLC owned about 0.15% of Protagonist Therapeutics worth $4,028,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Protagonist Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after purchasing an additional 39,055 shares in the last quarter. New York State Teachers Retirement System acquired a new position in Protagonist Therapeutics during the third quarter worth about $1,107,000. Seven Eight Capital LP increased its holdings in Protagonist Therapeutics by 426.9% in the second quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after buying an additional 29,810 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Protagonist Therapeutics by 9.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock valued at $7,079,000 after acquiring an additional 17,065 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $2,250,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the transaction, the chief executive officer now owns 435,208 shares of the company’s stock, valued at $20,437,367.68. This represents a 15.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Arturo Md Molina sold 1,906 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the sale, the insider now owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 232,066 shares of company stock valued at $10,681,738. Company insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX opened at $43.26 on Tuesday. The firm has a market cap of $2.58 billion, a PE ratio of 16.26 and a beta of 2.18. The firm has a 50 day simple moving average of $45.09 and a 200-day simple moving average of $39.97. Protagonist Therapeutics, Inc. has a 1-year low of $18.07 and a 1-year high of $48.89.

Analyst Upgrades and Downgrades

PTGX has been the subject of several research analyst reports. JMP Securities dropped their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Wedbush restated an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Finally, 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 target on the stock. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $53.57.

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.