Financial Enhancement Group LLC Acquires Shares of 41,818 Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Financial Enhancement Group LLC bought a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,818 shares of the company’s stock, valued at approximately $1,882,000.

Several other institutional investors have also recently made changes to their positions in PTGX. GAMMA Investing LLC lifted 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 valued at $25,000 after buying an additional 487 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Protagonist Therapeutics in the 1st quarter valued at about $35,000. Exchange Traded Concepts LLC acquired a new position in Protagonist Therapeutics in the 3rd quarter worth about $43,000. 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 in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Protagonist Therapeutics in the 1st quarter valued at $69,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Price Performance

PTGX opened at $47.60 on Thursday. The business has a fifty day moving average price of $45.36 and a 200 day moving average price of $37.81. Protagonist Therapeutics, Inc. has a 12 month low of $14.78 and a 12 month high of $48.89. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 18.17 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The firm 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 2.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Asif Ali sold 14,203 shares of Protagonist Therapeutics stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The trade was 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 the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at $540,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. HC Wainwright increased their price objective on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. BTIG Research upped their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Wedbush reissued an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Monday. 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, Protagonist Therapeutics currently has an average rating of “Buy” and an average target price of $53.57.

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.