Walleye Capital LLC Invests $4.74 Million in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Walleye Capital LLC acquired a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 105,335 shares of the company’s stock, valued at approximately $4,740,000. Walleye Capital LLC owned approximately 0.18% of Protagonist Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Protagonist Therapeutics by 405,061.2% in the third 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 in the last quarter. Millennium Management LLC raised its holdings in shares of Protagonist Therapeutics by 2,135.6% during the second quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock valued at $33,205,000 after acquiring an additional 915,418 shares in the last quarter. Perceptive Advisors LLC raised its holdings in shares of Protagonist Therapeutics by 27.6% during the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock valued at $43,962,000 after acquiring an additional 274,412 shares in the last quarter. Renaissance Technologies LLC raised its holdings 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 acquiring an additional 264,900 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Protagonist Therapeutics in the second quarter worth $5,467,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Trading Down 2.6 %

Shares of PTGX opened at $43.80 on Monday. The company has a market capitalization of $2.61 billion, a PE ratio of 16.47 and a beta of 2.17. The business’s 50 day moving average is $45.15 and its 200 day moving average is $39.89. Protagonist Therapeutics, Inc. has a 12-month low of $17.70 and a 12-month high of $48.89.

Insider Buying and Selling at Protagonist Therapeutics

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 transaction, the chief executive officer now owns 435,208 shares of the company’s stock, valued at $20,437,367.68. This represents a 15.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Arturo Md Molina sold 26,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the transaction, the insider now directly owns 46,444 shares in the company, valued at $2,076,046.80. This represents a 35.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,066 shares of company stock worth $10,681,738 in the last quarter. 5.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on PTGX. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. JMP Securities dropped their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. Truist Financial started coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $53.57.

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.