Pacer Advisors Inc. Raises Stock Holdings in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Pacer Advisors Inc. increased its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 405,061.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,734,090 shares of the company’s stock after purchasing an additional 1,733,662 shares during the period. Pacer Advisors Inc.’s holdings in Protagonist Therapeutics were worth $78,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position in 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 acquiring an additional 487 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth $43,000. Russell Investments Group Ltd. purchased a new position in shares of Protagonist Therapeutics in the first quarter valued at $35,000. CWM LLC raised 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 worth $57,000 after purchasing an additional 1,147 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Protagonist Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after purchasing an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Stock Up 2.5 %

PTGX stock opened at $41.65 on Friday. Protagonist Therapeutics, Inc. has a 52-week low of $16.80 and a 52-week high of $48.89. The company has a market capitalization of $2.48 billion, a PE ratio of 15.66 and a beta of 2.17. The stock’s 50 day moving average is $45.34 and its two-hundred day moving average is $39.00.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. JMP Securities lowered their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Wedbush restated an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $53.57.

Insiders Place Their Bets

In related news, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction dated 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 owns 34,960 shares of the company’s stock, valued at $1,555,370.40. This represents a 28.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now owns 12,000 shares in the company, valued at approximately $540,000. This trade represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,109 shares of company stock valued at $1,069,999 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.

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.