Jane Street Group LLC Decreases Stock Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Jane Street Group LLC trimmed its holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 74.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,858 shares of the company’s stock after selling 93,653 shares during the period. Jane Street Group LLC owned 0.06% of Protagonist Therapeutics worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PTGX. GAMMA Investing LLC raised its holdings in shares of Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after acquiring an additional 487 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Protagonist Therapeutics during the third quarter valued at $43,000. CWM LLC increased its position in Protagonist Therapeutics by 910.3% during 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 in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Protagonist Therapeutics in the 3rd quarter valued at about $69,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Protagonist Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after purchasing an additional 379 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total value of $1,162,200.00. Following the transaction, the insider now directly owns 46,444 shares of the company’s stock, valued at $2,076,046.80. This represents a 35.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $4,762,239.48. Following the sale, the insider now directly owns 256,174 shares of the company’s stock, valued at $11,794,250.96. The trade was a 28.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 209,863 shares of company stock valued at $9,689,847. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $38.96 on Friday. The stock has a 50-day simple moving average of $43.28 and a 200-day simple moving average of $41.11. Protagonist Therapeutics, Inc. has a 1 year low of $21.43 and a 1 year high of $48.89. The firm has a market cap of $2.32 billion, a P/E ratio of 14.65 and a beta of 2.18.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PTGX. BMO Capital Markets started coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $62.00 price target for the company. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, December 10th. Finally, TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.78.

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.