New York State Teachers Retirement System Makes New Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

New York State Teachers Retirement System bought a new position 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 SEC. The fund bought 24,592 shares of the company’s stock, valued at approximately $1,107,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PTGX. Vanguard Group Inc. increased its holdings in shares of Protagonist Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after purchasing an additional 39,055 shares during the period. Seven Eight Capital LP increased its stake 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 acquiring an additional 29,810 shares during the period. Bank of New York Mellon Corp increased its stake in Protagonist Therapeutics by 9.1% in the second 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. Dark Forest Capital Management LP bought a new stake in Protagonist Therapeutics in the second quarter valued at about $2,112,000. Finally, Perceptive Advisors LLC increased its stake in Protagonist Therapeutics by 27.6% in the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock valued at $43,962,000 after acquiring an additional 274,412 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

PTGX stock opened at $46.23 on Friday. The company 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 cap of $2.72 billion, a price-to-earnings 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.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research firms recently weighed in on PTGX. JMP Securities lowered their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 7th. HC Wainwright boosted their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. boosted their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Truist Financial initiated 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 analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics 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.