Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Sold by King Wealth Management Group

King Wealth Management Group lowered its position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 50.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,000 shares of the company’s stock after selling 6,000 shares during the period. King Wealth Management Group’s holdings in Protagonist Therapeutics were worth $270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its position in Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after buying an additional 487 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Protagonist Therapeutics during the first quarter worth about $35,000. Exchange Traded Concepts LLC purchased a new position in Protagonist Therapeutics during the third quarter worth about $43,000. CWM LLC lifted its position in Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Protagonist Therapeutics in the 1st quarter valued at approximately $69,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PTGX. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Truist Financial began coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target for the company. JMP Securities decreased their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 7th. BTIG Research upped their target price on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $53.57.

Insiders Place Their Bets

In related news, Director William D. Waddill sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $540,000. This represents a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company insiders.

Protagonist Therapeutics Price Performance

Shares of NASDAQ PTGX opened at $41.04 on Friday. The firm’s 50-day moving average is $45.66 and its two-hundred day moving average is $38.49. The company has a market capitalization of $2.45 billion, a PE ratio of 15.43 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 12-month low of $15.58 and a 12-month high of $48.89.

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.