HighVista Strategies LLC Boosts Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

HighVista Strategies LLC raised its holdings in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 321.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,508 shares of the company’s stock after buying an additional 68,279 shares during the period. Protagonist Therapeutics comprises 1.4% of HighVista Strategies LLC’s investment portfolio, making the stock its 12th largest position. HighVista Strategies LLC’s holdings in Protagonist Therapeutics were worth $4,028,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PTGX. GAMMA Investing LLC lifted its holdings in shares of Protagonist Therapeutics by 749.2% during 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 purchased a new stake in shares of Protagonist Therapeutics in the third quarter worth about $43,000. CWM LLC grew its stake in shares of Protagonist Therapeutics by 910.3% in the third 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. Lazard Asset Management LLC purchased a new stake in shares of Protagonist Therapeutics during the 1st quarter valued at about $69,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Protagonist Therapeutics during the 3rd quarter worth approximately $69,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suneel Gupta sold 103,437 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the sale, the insider now directly owns 256,174 shares in the company, valued at approximately $11,794,250.96. This represents a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,066 shares of company stock worth $10,681,738. 5.40% of the stock is currently owned by corporate insiders.

Protagonist Therapeutics Price Performance

NASDAQ PTGX opened at $43.26 on Tuesday. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 16.26 and a beta of 2.18. Protagonist Therapeutics, Inc. has a 12 month low of $18.07 and a 12 month high of $48.89. The company’s fifty day moving average price is $45.09 and its two-hundred day moving average price is $39.97.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several recent research reports. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Truist Financial assumed coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 target price on the stock. Seven 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, Protagonist Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $53.57.

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.