Bellevue Group AG Reduces Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Bellevue Group AG lowered its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 18.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 12,346 shares of the company’s stock after selling 2,800 shares during the period. Bellevue Group AG’s holdings in Protagonist Therapeutics were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after buying an additional 487 shares during the period. Exchange Traded Concepts LLC acquired a new position in Protagonist Therapeutics in the 3rd quarter valued at about $43,000. Russell Investments Group Ltd. purchased a new stake in Protagonist Therapeutics during the 1st quarter valued at approximately $35,000. CWM LLC lifted its position in 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 acquiring an additional 1,147 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at approximately $69,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PTGX shares. Wedbush restated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Truist Financial started coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company. JMP Securities cut their price target on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.57.

Insider Buying and Selling

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.96, for a total value of $3,687,299.20. Following the sale, the chief executive officer now owns 435,208 shares of the company’s stock, valued at approximately $20,437,367.68. This represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suneel Gupta sold 103,437 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. This represents a 28.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,066 shares of company stock valued at $10,681,738. Corporate insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Stock Down 2.6 %

NASDAQ:PTGX opened at $43.80 on Monday. The firm’s fifty day simple moving average is $45.15 and its 200-day simple moving average is $39.89. The stock has a market cap of $2.61 billion, a PE ratio of 16.47 and a beta of 2.17. Protagonist Therapeutics, Inc. has a fifty-two week low of $17.70 and a fifty-two week high of $48.89.

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.