Eagle Asset Management Inc. Lowers Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Eagle Asset Management Inc. reduced its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 17.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 294,280 shares of the company’s stock after selling 63,353 shares during the quarter. Eagle Asset Management Inc. owned 0.50% of Protagonist Therapeutics worth $13,605,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Protagonist Therapeutics by 749.2% during 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 position in Protagonist Therapeutics in the third quarter valued at $43,000. Russell Investments Group Ltd. acquired a new position in shares of Protagonist Therapeutics in the first quarter worth about $35,000. CWM LLC boosted its stake in shares of 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 acquiring an additional 1,147 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Protagonist Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after acquiring an additional 379 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. 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 target on the stock. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JMP Securities reduced 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 research report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Finally, TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $53.57.

Protagonist Therapeutics Trading Up 11.5 %

Shares of NASDAQ PTGX opened at $46.46 on Friday. The company has a 50-day moving average of $45.25 and a 200 day moving average of $39.16. Protagonist Therapeutics, Inc. has a 12-month low of $16.80 and a 12-month high of $48.89. The stock has a market cap of $2.77 billion, a PE ratio of 17.47 and a beta of 2.17.

Insiders Place Their Bets

In other news, insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction on Friday, November 15th. The stock was sold at an average price of $40.98, for a total transaction of $78,107.88. Following the transaction, the insider now owns 46,444 shares in the company, valued at $1,903,275.12. The trade was a 3.94 % decrease in their position. The transaction 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 the company’s stock in a transaction dated 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 $540,000. This represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,109 shares of company stock valued at $1,069,999. Insiders own 5.40% of the company’s stock.

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.