Protagonist Therapeutics, Inc. (NASDAQ:PTGX) is Checkpoint Capital L.P.’s 7th Largest Position

Checkpoint Capital L.P. reduced its stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 32.4% during the third quarter, HoldingsChannel reports. The firm owned 240,000 shares of the company’s stock after selling 115,000 shares during the period. Protagonist Therapeutics comprises about 5.4% of Checkpoint Capital L.P.’s portfolio, making the stock its 7th biggest holding. Checkpoint Capital L.P.’s holdings in Protagonist Therapeutics were worth $10,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Farallon Capital Management LLC lifted its stake in Protagonist Therapeutics by 1.8% during the second quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock worth $202,383,000 after purchasing an additional 101,800 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Protagonist Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after buying an additional 39,055 shares in the last quarter. Pacer Advisors Inc. lifted its position in Protagonist Therapeutics by 405,061.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after buying an additional 1,733,662 shares during the last quarter. Perceptive Advisors LLC boosted its stake in Protagonist Therapeutics by 27.6% in the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after buying an additional 274,412 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Protagonist Therapeutics by 2,135.6% in the second quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock worth $33,205,000 after buying an additional 915,418 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PTGX has been the subject of a number of recent research reports. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Wedbush restated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Truist Financial began 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. Finally, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Protagonist Therapeutics has an average rating of “Buy” and an average price target of $53.57.

Protagonist Therapeutics Trading Down 2.6 %

Shares of NASDAQ:PTGX opened at $43.80 on Monday. The company has a 50-day moving average price of $45.15 and a 200-day moving average price of $39.89. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 16.47 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 12 month low of $17.70 and a 12 month high of $48.89.

Insider Transactions at Protagonist Therapeutics

In other news, insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the sale, the insider now directly owns 46,444 shares of the company’s stock, valued at approximately $1,903,275.12. This trade represents a 3.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Suneel Gupta sold 103,437 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the sale, the insider now directly owns 256,174 shares in the company, valued at $11,794,250.96. The trade was a 28.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,066 shares of company stock worth $10,681,738. 5.40% of the stock is currently owned by insiders.

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.