Amalgamated Bank Buys 15,301 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Amalgamated Bank increased its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 756.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,324 shares of the company’s stock after purchasing an additional 15,301 shares during the period. Amalgamated Bank’s holdings in Protagonist Therapeutics were worth $780,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PTGX. Janney Montgomery Scott LLC purchased a new stake in shares of Protagonist Therapeutics during the third quarter valued at approximately $866,000. Palumbo Wealth Management LLC purchased a new stake in shares of Protagonist Therapeutics during the third quarter valued at approximately $234,000. New York State Teachers Retirement System purchased a new stake in shares of Protagonist Therapeutics during the third quarter valued at approximately $1,107,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Protagonist Therapeutics by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,329 shares of the company’s stock valued at $510,000 after purchasing an additional 4,438 shares during the period. Finally, Cavalier Investments LLC purchased a new stake in shares of Protagonist Therapeutics during the third quarter valued at approximately $1,348,000. 98.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on PTGX shares. JPMorgan Chase & Co. raised their price target on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. BTIG Research raised their price target on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Monday, November 4th. Finally, Truist Financial assumed coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. Seven investment 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.com, the company has a consensus rating of “Buy” and a consensus target price of $53.57.

Protagonist Therapeutics Stock Up 0.2 %

PTGX stock opened at $41.11 on Friday. Protagonist Therapeutics, Inc. has a twelve month low of $15.58 and a twelve month high of $48.89. The stock has a market cap of $2.45 billion, a P/E ratio of 15.45 and a beta of 2.17. The business’s 50-day moving average price is $45.64 and its 200-day moving average price is $38.50.

Insider Activity

In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction that occurred 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 sale, the chief financial officer now owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The trade was a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 directly owns 12,000 shares in the company, valued at approximately $540,000. This represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

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.