Thrivent Financial for Lutherans Makes New $2.08 Million Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Thrivent Financial for Lutherans bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 46,257 shares of the company’s stock, valued at approximately $2,082,000. Thrivent Financial for Lutherans owned about 0.08% of Protagonist Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Protagonist Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after buying an additional 39,055 shares during the period. New York State Teachers Retirement System acquired a new stake in Protagonist Therapeutics in the 3rd quarter valued at approximately $1,107,000. Seven Eight Capital LP increased its holdings in Protagonist Therapeutics by 426.9% in the 2nd quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after purchasing an additional 29,810 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 purchasing an additional 17,065 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in Protagonist Therapeutics during the second quarter worth $2,112,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PTGX. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Wedbush reissued an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. JMP Securities dropped their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, Truist Financial began coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock. Seven equities research 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, Protagonist Therapeutics presently has an average rating of “Buy” and an average target price of $53.57.

Insiders Place Their Bets

In other news, insider Suneel Gupta sold 103,437 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the sale, the insider now directly owns 256,174 shares of the company’s stock, valued at $11,794,250.96. This trade represents a 28.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the transaction, the insider now directly owns 46,444 shares of the company’s stock, valued at $1,903,275.12. The trade was a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,066 shares of company stock valued at $10,681,738. 5.40% of the stock is owned by corporate insiders.

Protagonist Therapeutics Trading Up 0.3 %

Protagonist Therapeutics stock opened at $44.95 on Friday. The company has a fifty day simple moving average of $45.22 and a 200-day simple moving average of $39.66. The stock has a market cap of $2.68 billion, a P/E ratio of 16.90 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 12-month low of $17.13 and a 12-month high of $48.89.

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.