Teachers Retirement System of The State of Kentucky Makes New Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Teachers Retirement System of The State of Kentucky acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,200 shares of the company’s stock, valued at approximately $909,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Protagonist Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company’s stock worth $61,873,000 after buying an additional 3,528 shares during the last quarter. Barclays PLC lifted its holdings in shares of Protagonist Therapeutics by 223.6% during the 3rd quarter. Barclays PLC now owns 126,995 shares of the company’s stock worth $5,714,000 after acquiring an additional 87,755 shares during the period. XTX Topco Ltd acquired a new stake in shares of Protagonist Therapeutics in the third quarter worth approximately $666,000. Wellington Management Group LLP acquired a new position in Protagonist Therapeutics during the third quarter worth approximately $1,354,000. Finally, Weiss Asset Management LP purchased a new position in Protagonist Therapeutics during the third quarter worth approximately $2,811,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Arturo Md Molina sold 1,906 shares of the stock in a transaction dated Friday, November 15th. The stock was 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 owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. This represents a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of Protagonist Therapeutics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the sale, the chief executive officer now owns 435,208 shares of the company’s stock, valued at approximately $20,437,367.68. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,863 shares of company stock worth $9,689,847. 5.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Truist Financial assumed coverage on Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective on the stock. The Goldman Sachs Group began coverage on Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 target price for the company. StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets assumed coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.78.

Protagonist Therapeutics Stock Down 4.1 %

Shares of NASDAQ:PTGX opened at $39.02 on Thursday. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 14.67 and a beta of 2.18. The company has a 50 day moving average of $44.17 and a two-hundred day moving average of $40.81. Protagonist Therapeutics, Inc. has a 52-week low of $20.71 and a 52-week high of $48.89.

Protagonist Therapeutics Company 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.