BNP PARIBAS ASSET MANAGEMENT Holding S.A. Takes Position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 125,898 shares of the company’s stock, valued at approximately $5,665,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 worth $25,000 after buying an additional 487 shares during the period. Exchange Traded Concepts LLC bought a new position in Protagonist Therapeutics during the third quarter worth $43,000. CWM LLC lifted its holdings 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 buying an additional 1,147 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in Protagonist Therapeutics in the first quarter valued at $35,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Stock Up 11.5 %

Shares of NASDAQ:PTGX opened at $46.46 on Monday. The stock’s 50 day moving average is $45.25 and its 200-day moving average is $39.34. Protagonist Therapeutics, Inc. has a twelve month low of $16.80 and a twelve month high of $48.89. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 17.47 and a beta of 2.17.

Insiders Place Their Bets

In other news, CFO Asif Ali sold 14,203 shares of the stock in a transaction dated 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 $1,555,370.40. This represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Arturo Md Molina sold 1,906 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the transaction, the insider now owns 46,444 shares in the company, valued at $1,903,275.12. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,109 shares of company stock worth $1,069,999. Insiders own 5.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PTGX. Wedbush reiterated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. JMP Securities lowered their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Protagonist Therapeutics presently has an average rating of “Buy” and a consensus target price 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.