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

Bellevue Group AG cut its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 18.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Protagonist Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after purchasing an additional 379 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after acquiring an additional 487 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Protagonist Therapeutics during the third quarter valued at about $43,000. CWM LLC raised its stake in shares of Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after acquiring an additional 1,147 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of Protagonist Therapeutics in the 1st quarter worth approximately $35,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the sale, the chief executive officer now directly owns 435,208 shares of the company’s stock, valued at $20,437,367.68. The trade was a 15.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Suneel Gupta sold 103,437 shares of the stock in a transaction dated 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 in the company, valued at approximately $11,794,250.96. The trade was a 28.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,066 shares of company stock valued at $10,681,738. 5.40% of the stock is currently owned by corporate insiders.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX opened at $43.80 on Monday. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 16.47 and a beta of 2.17. The stock’s 50-day moving average is $45.15 and its two-hundred day moving average is $39.89. Protagonist Therapeutics, Inc. has a 1-year low of $17.70 and a 1-year high of $48.89.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Wedbush reaffirmed 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 started 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. 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. Finally, TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Protagonist Therapeutics has a consensus rating of “Buy” and an average price target 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.