Creative Planning Acquires New Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Creative Planning acquired a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,504 shares of the company’s stock, valued at approximately $338,000.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after acquiring an additional 487 shares during the period. Russell Investments Group Ltd. purchased a new stake in Protagonist Therapeutics during the 1st quarter valued at approximately $35,000. Exchange Traded Concepts LLC purchased a new stake in Protagonist Therapeutics during the 3rd quarter valued at approximately $43,000. CWM LLC grew its holdings in Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after buying an additional 1,147 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Protagonist Therapeutics in the first quarter valued at $69,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $46.23 on Friday. The stock has a 50-day simple moving average of $45.54 and a 200-day simple moving average of $38.01. The stock has a market capitalization of $2.72 billion, a PE ratio of 17.65 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 1 year low of $14.78 and a 1 year high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. Analysts predict that Protagonist Therapeutics, Inc. will post 2.8 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William D. Waddill sold 8,000 shares of the company’s 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 sale, the director now directly owns 12,000 shares in the company, valued at $540,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

Analyst Upgrades and Downgrades

PTGX has been the subject of a number of analyst reports. JMP Securities lowered their price target 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. HC Wainwright lifted their price objective on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. lifted their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Truist Financial assumed coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Monday, November 4th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.