Harvest Fund Management Co. Ltd Purchases New Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Harvest Fund Management Co. Ltd acquired a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,544 shares of the company’s stock, valued at approximately $69,000.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of 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 acquiring an additional 1,733,662 shares during the last quarter. Millennium Management LLC raised its stake in shares of 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 purchasing an additional 915,418 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in shares of Protagonist Therapeutics by 27.6% in the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock valued at $43,962,000 after purchasing an additional 274,412 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Protagonist Therapeutics by 813.4% during the second quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock valued at $10,307,000 after buying an additional 264,900 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in Protagonist Therapeutics during the second quarter worth $5,467,000. 98.63% of the stock is owned by institutional investors.

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction dated Friday, November 15th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the company’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 sale, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,066 shares of company stock worth $10,681,738. Insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on PTGX shares. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Wedbush reiterated an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Seven equities research 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.com, the company presently has a consensus rating of “Buy” and an average target price of $53.57.

Protagonist Therapeutics Stock Up 0.3 %

PTGX opened at $44.95 on Thursday. The company’s 50-day moving average price is $45.24 and its two-hundred day moving average price is $39.62. Protagonist Therapeutics, Inc. has a twelve month low of $17.13 and a twelve month high of $48.89. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 16.90 and a beta of 2.17.

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.