Bleakley Financial Group LLC Takes Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Bleakley Financial Group LLC purchased a new stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,031 shares of the company’s stock, valued at approximately $316,000.

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

Protagonist Therapeutics Stock Up 0.3 %

Protagonist Therapeutics stock opened at $46.59 on Thursday. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 17.78 and a beta of 2.17. The business has a 50-day simple moving average of $44.27 and a 200 day simple 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) EPS for the quarter, hitting the consensus estimate of ($0.50). The business had revenue of $4.17 million for the quarter, compared to analysts’ expectations of $40.00 million. On average, research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics 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 completion of the sale, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 trade 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 at this hyperlink. Also, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred 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 transaction, the director now directly owns 12,000 shares in the company, valued at $540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. 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. BTIG Research boosted 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. HC Wainwright raised their price target on Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Seven investment 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, the stock presently has a consensus rating of “Buy” and an average price target of $49.86.

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.