Protagonist Therapeutics, Inc. $PTGX Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. trimmed its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 27.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 29,203 shares of the company’s stock after selling 11,017 shares during the period. Alps Advisors Inc.’s holdings in Protagonist Therapeutics were worth $1,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in Protagonist Therapeutics during the third quarter valued at $29,000. FNY Investment Advisers LLC purchased a new stake in shares of Protagonist Therapeutics during the 2nd quarter worth about $27,000. Bessemer Group Inc. grew its position in shares of Protagonist Therapeutics by 171.0% during 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 period. CWM LLC increased its stake in shares of Protagonist Therapeutics by 201.5% in the 2nd quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after purchasing an additional 407 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Protagonist Therapeutics by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after purchasing an additional 525 shares during the period. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $83.88 on Wednesday. The stock’s fifty day moving average is $85.59 and its two-hundred day moving average is $74.35. The firm has a market capitalization of $5.24 billion, a P/E ratio of 135.29 and a beta of 2.26. Protagonist Therapeutics, Inc. has a fifty-two week low of $33.70 and a fifty-two week high of $96.54.

Wall Street Analyst Weigh In

PTGX has been the topic of several research analyst reports. Truist Financial raised their price objective on Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a report on Monday, January 5th. Citizens Jmp increased their target price on Protagonist Therapeutics from $69.00 to $102.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Wedbush boosted their price target on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group upped their price objective on shares of Protagonist Therapeutics from $95.00 to $118.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, BTIG Research reiterated a “buy” rating and issued a $82.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.64.

Insider Activity

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 34,438 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $82.48, for a total transaction of $2,840,446.24. Following the transaction, the chief executive officer directly owned 580,505 shares of the company’s stock, valued at $47,880,052.40. The trade was a 5.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Waddill sold 20,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $83.68, for a total transaction of $1,673,600.00. Following the completion of the sale, the director directly owned 7,825 shares of the company’s stock, valued at approximately $654,796. This trade represents a 71.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 185,167 shares of company stock worth $15,405,639. 4.90% of the stock is owned by insiders.

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.