Jennison Associates LLC purchased a new stake in Protagonist Therapeutics Inc (NASDAQ:PTGX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $2,080,000. Jennison Associates LLC owned approximately 0.49% of Protagonist Therapeutics at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of PTGX. Rhumbline Advisers purchased a new position in Protagonist Therapeutics in the second quarter worth approximately $114,000. Bank of Montreal Can grew its position in Protagonist Therapeutics by 1,086.0% in the fourth quarter. Bank of Montreal Can now owns 5,930 shares of the company’s stock worth $123,000 after acquiring an additional 5,430 shares during the period. Wells Fargo & Company MN grew its position in Protagonist Therapeutics by 60.8% in the third quarter. Wells Fargo & Company MN now owns 9,565 shares of the company’s stock worth $169,000 after acquiring an additional 3,617 shares during the period. Teachers Advisors LLC grew its position in Protagonist Therapeutics by 71.4% in the second quarter. Teachers Advisors LLC now owns 16,218 shares of the company’s stock worth $183,000 after acquiring an additional 6,757 shares during the period. Finally, California State Teachers Retirement System grew its position in Protagonist Therapeutics by 8.5% in the second quarter. California State Teachers Retirement System now owns 16,600 shares of the company’s stock worth $188,000 after acquiring an additional 1,300 shares during the period. Institutional investors and hedge funds own 42.35% of the company’s stock.
Several research analysts recently weighed in on PTGX shares. Zacks Investment Research lowered Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 18th. BMO Capital Markets lowered their price objective on Protagonist Therapeutics from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 19th. BidaskClub lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Stifel Nicolaus assumed coverage on Protagonist Therapeutics in a research note on Monday, January 29th. They set a “buy” rating and a $32.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Protagonist Therapeutics has an average rating of “Hold” and an average price target of $32.50.
In other news, CFO Thomas P. O’neil sold 8,000 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $20.00, for a total value of $160,000.00. Following the sale, the chief financial officer now directly owns 4,000 shares in the company, valued at $80,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard S. Shames sold 3,529 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $20.50, for a total value of $72,344.50. Following the completion of the sale, the insider now owns 3,529 shares in the company, valued at $72,344.50. The disclosure for this sale can be found here. Insiders have sold 22,944 shares of company stock worth $438,629 over the last 90 days. 15.50% of the stock is owned by insiders.
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Protagonist Therapeutics Profile
Protagonist Therapeutics, Inc is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs.
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