Exchange Traded Concepts LLC Takes $43,000 Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Exchange Traded Concepts LLC bought a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 961 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after buying an additional 487 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Protagonist Therapeutics in the 1st quarter valued at $35,000. CWM LLC boosted its stake in Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after purchasing an additional 1,147 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Protagonist Therapeutics in the first quarter valued at about $69,000. Finally, Point72 DIFC Ltd bought a new stake in Protagonist Therapeutics during the second quarter worth about $153,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PTGX has been the topic of several recent analyst reports. JMP Securities lowered their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. HC Wainwright lifted their price objective 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. Finally, BTIG Research upped their target price on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $49.86.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $46.59 on Thursday. The stock has a market cap of $2.74 billion, a PE ratio of 17.78 and a beta of 2.17. The firm has a 50-day moving average of $44.27 and a 200-day moving average of $36.39. Protagonist Therapeutics, Inc. has a 52-week low of $13.72 and a 52-week high of $48.32.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The company had revenue of $4.17 million for the quarter, compared to analyst estimates of $40.00 million. As a group, analysts predict that Protagonist Therapeutics, Inc. will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

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 stock was 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 of the company’s stock, valued at $540,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now owns 12,000 shares of the company’s stock, valued at $540,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction that occurred 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 directly owns 34,960 shares in the company, valued at $1,555,370.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by insiders.

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.