Rhumbline Advisers Reduces Position in Protagonist Therapeutics, Inc. $PTGX

Rhumbline Advisers trimmed its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,980 shares of the company’s stock after selling 9,048 shares during the quarter. Rhumbline Advisers’ holdings in Protagonist Therapeutics were worth $10,893,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in Protagonist Therapeutics by 11.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,403 shares of the company’s stock valued at $91,000 after buying an additional 146 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Protagonist Therapeutics by 1.6% during the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after acquiring an additional 303 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Protagonist Therapeutics by 171.0% in the 2nd quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Arizona State Retirement System raised its position in shares of Protagonist Therapeutics by 2.4% during the 3rd quarter. Arizona State Retirement System now owns 14,669 shares of the company’s stock worth $974,000 after acquiring an additional 343 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after purchasing an additional 348 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Analyst Ratings Changes

PTGX has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $82.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, October 28th. HC Wainwright increased their target price on shares of Protagonist Therapeutics from $80.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Citizens Jmp lifted their price target on shares of Protagonist Therapeutics from $69.00 to $102.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Jefferies Financial Group boosted their price target on shares of Protagonist Therapeutics from $95.00 to $118.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Wedbush upped their price objective on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $93.38.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $82.76 on Friday. The firm’s fifty day simple moving average is $84.36 and its 200-day simple moving average is $75.62. Protagonist Therapeutics, Inc. has a 12 month low of $33.70 and a 12 month high of $96.54. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 133.49 and a beta of 2.26.

Insider Buying and Selling

In related news, insider Arturo Md Molina sold 13,151 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $82.42, for a total value of $1,083,905.42. Following the transaction, the insider owned 84,115 shares in the company, valued at $6,932,758.30. The trade was a 13.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 34,438 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $82.48, for a total value of $2,840,446.24. Following the sale, the chief executive officer directly owned 580,505 shares of the company’s stock, valued at approximately $47,880,052.40. This represents a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 203,167 shares of company stock valued at $16,889,199 in the last quarter. Corporate insiders own 4.90% of the company’s stock.

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.