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

King Wealth Management Group lowered its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 50.0% during the third quarter, Holdings Channel.com reports. The fund owned 6,000 shares of the company’s stock after selling 6,000 shares during the quarter. King Wealth Management Group’s holdings in Protagonist Therapeutics were worth $270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Protagonist Therapeutics by 12.2% during the 1st quarter. Sei Investments Co. now owns 41,758 shares of the company’s stock valued at $1,208,000 after acquiring an additional 4,529 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Protagonist Therapeutics during the first quarter worth about $35,000. ProShare Advisors LLC boosted its position in shares of Protagonist Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock worth $415,000 after buying an additional 1,206 shares during the period. Vanguard Group Inc. grew its stake in shares of Protagonist Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after buying an additional 39,055 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of Protagonist Therapeutics during the 1st quarter valued at about $202,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Insider Activity

In related news, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 owns 34,960 shares in the company, valued at approximately $1,555,370.40. This represents a 28.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred 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 transaction, the director now owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 40.00 % 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 Down 3.8 %

Shares of PTGX stock opened at $41.04 on Friday. The stock has a 50-day simple moving average of $45.66 and a 200 day simple moving average of $38.49. The stock has a market capitalization of $2.45 billion, a P/E ratio of 15.43 and a beta of 2.17. Protagonist Therapeutics, Inc. has a fifty-two week low of $15.58 and a fifty-two week high of $48.89.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PTGX. Wedbush restated an “outperform” rating and issued a $58.00 price target on shares of Protagonist Therapeutics in a report on Monday, November 4th. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. BTIG Research raised their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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.