Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Shares Acquired by American International Group Inc.

American International Group Inc. increased its position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 16.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,094 shares of the company’s stock after buying an additional 3,638 shares during the quarter. American International Group Inc.’s holdings in Protagonist Therapeutics were worth $721,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PTGX. Bank of New York Mellon Corp lifted its holdings in shares of Protagonist Therapeutics by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 139,769 shares of the company’s stock valued at $3,310,000 after buying an additional 1,275 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Protagonist Therapeutics by 58.5% during the first quarter. MetLife Investment Management LLC now owns 23,914 shares of the company’s stock valued at $566,000 after purchasing an additional 8,826 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Protagonist Therapeutics by 5.6% during the first quarter. Rhumbline Advisers now owns 46,426 shares of the company’s stock valued at $1,099,000 after purchasing an additional 2,457 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Protagonist Therapeutics by 68.5% during the first quarter. Lord Abbett & CO. LLC now owns 275,787 shares of the company’s stock valued at $6,531,000 after purchasing an additional 112,123 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Protagonist Therapeutics during the first quarter valued at $989,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Trading Down 1.0 %

Shares of Protagonist Therapeutics stock opened at $16.12 on Friday. The stock has a 50-day moving average price of $16.19 and a 200 day moving average price of $20.77. The company has a market cap of $929.80 million, a P/E ratio of -6.15 and a beta of 1.85. Protagonist Therapeutics, Inc. has a 1 year low of $7.24 and a 1 year high of $30.10.

Analyst Ratings Changes

PTGX has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on Protagonist Therapeutics from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, September 25th. StockNews.com downgraded Protagonist Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Capital One Financial initiated coverage on Protagonist Therapeutics in a report on Monday, October 30th. They set an “overweight” rating and a $32.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, October 10th. Finally, JMP Securities increased their price objective on Protagonist Therapeutics from $35.00 to $37.00 and gave the stock a “market outperform” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.25.

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 is in Phase II clinical trials for the treatment of erythrocytosis, iron overload, and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that is in Phase II 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, which is in Phase II clinical trials for inflammatory bowel disease.