Cavalier Investments LLC Acquires New Stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Cavalier Investments LLC bought a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the third quarter, HoldingsChannel.com reports. The fund bought 29,956 shares of the company’s stock, valued at approximately $1,348,000.

Several other large investors have also recently modified their holdings of PTGX. Millennium Management LLC increased its holdings in Protagonist Therapeutics by 2,135.6% in the 2nd quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock worth $33,205,000 after buying an additional 915,418 shares in the last quarter. Perceptive Advisors LLC grew its stake 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 worth $43,962,000 after acquiring an additional 274,412 shares during the period. 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 purchasing an additional 264,900 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Protagonist Therapeutics during the second quarter valued at approximately $5,467,000. Finally, Privium Fund Management B.V. bought a new stake in Protagonist Therapeutics in the 1st quarter worth approximately $3,299,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PTGX shares. JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. HC Wainwright increased their price objective on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, BTIG Research upped their target price on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $49.86.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the transaction, the chief financial officer now owns 34,960 shares in the company, valued at $1,555,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $540,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Protagonist Therapeutics Stock Up 0.7 %

Shares of Protagonist Therapeutics stock opened at $47.26 on Monday. Protagonist Therapeutics, Inc. has a 52 week low of $13.75 and a 52 week high of $48.32. The stock’s 50-day simple moving average is $44.52 and its 200-day simple moving average is $36.65. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 19.37 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million. On average, equities analysts expect that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current year.

Protagonist Therapeutics 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.