Public Sector Pension Investment Board Buys 16,865 Shares of Protagonist Therapeutics, Inc. $PTGX

Public Sector Pension Investment Board lifted its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 8.0% during the third quarter, Holdings Channel reports. The fund owned 228,146 shares of the company’s stock after acquiring an additional 16,865 shares during the quarter. Public Sector Pension Investment Board’s holdings in Protagonist Therapeutics were worth $15,156,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PTGX. Commodore Capital LP bought a new stake in Protagonist Therapeutics during the second quarter worth approximately $59,415,000. Adage Capital Partners GP L.L.C. raised its position in shares of Protagonist Therapeutics by 218.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,092,262 shares of the company’s stock valued at $60,369,000 after purchasing an additional 748,758 shares during the period. BVF Inc. IL lifted its stake in shares of Protagonist Therapeutics by 24.7% in the second quarter. BVF Inc. IL now owns 3,211,041 shares of the company’s stock worth $177,474,000 after buying an additional 636,026 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Protagonist Therapeutics in the second quarter worth $29,311,000. Finally, State Street Corp boosted its holdings in shares of Protagonist Therapeutics by 18.5% during the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after buying an additional 500,924 shares during the period. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 46,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $83.13, for a total value of $3,840,855.39. Following the completion of the transaction, the chief financial officer owned 60,320 shares of the company’s stock, valued at $5,014,401.60. This represents a 43.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 34,438 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $82.48, for a total value of $2,840,446.24. Following the completion of the sale, the chief executive officer owned 580,505 shares of the company’s stock, valued at $47,880,052.40. This represents a 5.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 185,167 shares of company stock valued at $15,405,639. 4.90% of the stock is currently owned by insiders.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $81.49 on Friday. The company has a 50-day simple moving average of $85.26 and a 200-day simple moving average of $74.78. The firm has a market capitalization of $5.09 billion, a P/E ratio of 131.44 and a beta of 2.26. Protagonist Therapeutics, Inc. has a 52 week low of $33.70 and a 52 week high of $96.54.

Analyst Ratings Changes

A number of research analysts have weighed in on PTGX shares. JPMorgan Chase & Co. boosted their target price on shares of Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. BTIG Research reaffirmed a “buy” rating and issued a $82.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. HC Wainwright boosted their price objective on Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Citigroup increased their target price on Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Weiss Ratings raised Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, December 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.64.

Protagonist Therapeutics Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.