Protagonist Therapeutics

PTGX • NASDAQ

Protagonist Therapeutics is a biotechnology company in the healthcare sector on NASDAQ, led by Dinesh V. Patel, with a market cap of $6.0B. As of Q3 2025, 114% of shares are held by 272 institutional investors, with BlackRock, Inc. as the largest holder at 15.12%.

President and Chief Executive OfficerDinesh V. Patel

Market Cap$6.0B

Biotechnology

Healthcare

Employees124.0

Websiteprotagonist-inc.com

Country

United States of America

Overview

Overview of institutional ownership in PTGX as of Q3 2025 with a market cap of $4.1B

All Institutions

Institutions: 272
Value Held: $4.7B
Shares Held: 70.7M
Avg Position: $17.3M
Median Position: $1.1M

Hedge Funds

Hedge Funds: 46
Value Held: $1.5B
Shares Held: 22.9M
Avg Position: $33.0M
Median Position: $3.3M

Ownership Breakdown

Institutional (non-HF)

76.85%

$3.2B

Hedge Funds

36.76%

$1.5B

Retail & Other

Based on market cap of $4.1B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in PTGX as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$624.7M 0.01% of portfolio	15.12% 9.4M shares	Q4 2016 Held for 8y 11m	$5.67T
FARALLON CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	Edric Calvin Saito Managing Partner	$411.6M 2.33% of portfolio	9.96% 6.2M shares	Q4 2017 Held for 7y 11m	$17.7B
RTW INVESTMENTS, LLC Hedge Fund•Sector	Peter M Fong President	$382.4M 4.74% of portfolio	9.25% 5.8M shares	Q3 2019 Held for 6y 2m	$8.1B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$282.8M 0.00% of portfolio	6.84% 4.3M shares	Q3 2016 Held for 9y 2m	$6.69T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$210.3M 0.01% of portfolio	5.09% 3.2M shares	Q3 2016 Held for 9y 2m	$2.88T
B BVF INC/IL Institution	-	$170.1M 6.90% of portfolio	4.12% 2.6M shares	Q1 2023 Held for 2y 8m	$2.5B
JOHNSON & JOHNSON Institution	Joaquin Duato CEO	$162.7M 32.30% of portfolio	3.94% 2.4M shares	Q3 2021 Held for 4y 2m	$503.7M
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$126.8M 0.02% of portfolio	3.07% 1.9M shares	Q3 2024 Held for 1y 2m	$571.21B
UBS Group AG Institution	Sergio P. Ermotti CEO	$126.0M 0.02% of portfolio	3.05% 1.9M shares	Q3 2016 Held for 9y 2m	$511.54B
Deep Track Capital, LP Hedge Fund•Long/Short	David Eric Kroin CIO	$114.0M 3.24% of portfolio	2.76% 1.7M shares	Q4 2024 Held for 11 months	$3.5B

Net Capital Flow

Institutional buying and selling activity for PTGX in Q3 2025

Traded: +$5.6M
Buyers: 127
Sellers: 147
Total Bought: +$473.6M
Total Sold: −$468.0M
Avg Position: $15.1M

Biggest Buyers

Institution	Net Bought	Current Position
Marshall Wace LLP Institution	+$72.1M +1.1M shares	$72.1M 1.1M shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$57.8M +870.7K shares	$126.8M 1.9M shares
HENDERSON GROUP PLC Institution	+$43.5M +654.0K shares	$73.2M 1.1M shares
Woodline Partners LP Hedge Fund•Long/Short	+$32.6M +491.4K shares	$95.5M 1.4M shares
C Colony Group, LLC Institution	+$29.8M +449.0K shares	$29.8M 449.0K shares
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	+$25.4M +382.1K shares	$75.7M 1.1M shares
Logos Global Management LP Hedge Fund•Long/Short	+$19.9M +300.0K shares	$19.9M 300.0K shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	+$18.8M +283.7K shares	$81.1M 1.2M shares
Invesco Ltd. ETF Provider	+$18.7M +282.0K shares	$66.7M 1.0M shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	+$17.2M +258.5K shares	$29.1M 438.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
Deep Track Capital, LP Hedge Fund•Long/Short	−$101.7M −1.5M shares	$114.0M 1.7M shares
B BVF INC/IL Institution	−$43.2M −650.1K shares	$170.1M 2.6M shares
UBS Group AG Institution	−$40.2M −605.2K shares	$126.0M 1.9M shares
Holocene Advisors, LP Hedge Fund•Long/Short	−$29.3M −530.3K shares	Sold Off 0 shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	−$24.8M −374.1K shares	$47.7M 718.2K shares
JUPITER ASSET MANAGEMENT LTD Long Only Manager	−$22.4M −405.6K shares	Sold Off 0 shares
Eversept Partners, LLC Hedge Fund•Long/Short	−$15.3M −277.3K shares	Sold Off 0 shares
B BlackRock, Inc. Institution	−$15.0M −226.1K shares	$624.7M 9.4M shares
Affinity Asset Advisors, LLC Hedge Fund•Long/Short	−$14.6M −219.4K shares	$14.7M 220.6K shares
A AMERICAN CENTURY COMPANIES INC Institution	−$14.2M −213.9K shares	$39.9M 600.0K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited PTGX in Q3 2025

New Positions: 21
New Value: $20.6M
Exited Positions: 39
Exited Value: $115.9M

New Positions

Institution	Position Value
D Duquesne Family Office LLC Institution	$10.6M 159.7K shares
Atika Capital Management LLC Hedge Fund•Long/Short	$5.5M 83.0K shares
V VIRGINIA RETIREMENT SYSTEMS ET AL Institution	$1.0M 15.6K shares
R Resona Asset Management Co.,Ltd. Institution	$580.0K 8.7K shares
P PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO Institution	$398.6K 6.0K shares
Vident Advisory, LLC ETF Provider	$336.8K 5.1K shares
V Vestcor Investment Management Corp Institution	$333.6K 5.0K shares
C Camden Capital, LLC RIA/Wealth	$301.3K 4.5K shares
B Baader Bank INC Institution	$285.6K 4.3K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$268.8K 4.0K shares

Exited Positions

Institution	Previous Position
Holocene Advisors, LP Hedge Fund•Long/Short	$29.3M 530.3K shares
JUPITER ASSET MANAGEMENT LTD Long Only Manager	$22.4M 405.6K shares
Eversept Partners, LLC Hedge Fund•Long/Short	$15.3M 277.3K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$9.6M 173.1K shares
C Capitolis Liquid Global Markets LLC Private Equity	$6.4M 116.1K shares
Checkpoint Capital L.P. Hedge Fund•Sector	$4.5M 81.3K shares
EAM Global Investors LLC Long Only Manager	$3.9M 69.7K shares
Q Qube Research & Technologies Ltd Institution	$3.8M 69.0K shares
N NATIXIS Institution	$2.3M 42.0K shares
Aquatic Capital Management LLC Hedge Fund•Quant	$2.3M 42.0K shares

Options Activity

Institutions with the largest Call and Put options positions in PTGX as of Q3 2025

Call Positions: 5
Call Value: $10.5M
Put Positions: 6
Put Value: $2.7M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.6M 685.0 contracts
J JANE STREET GROUP, LLC Institution	$1.7M 258.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.7M 252.0 contracts
B BNP PARIBAS ARBITRAGE, SA Institution	$1.4M 2.1 contracts
Caption Management, LLC Hedge Fund•Long/Short	$1.2M 180.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.3M 345.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$411.9K 62.0 contracts
S SIG BROKERAGE, LP Institution	- - contracts
N NOMURA HOLDINGS INC Institution	- - contracts
J JANE STREET GROUP, LLC Institution	- - contracts
Caption Management, LLC Hedge Fund•Long/Short	- - contracts

Most Committed Institutions

Institutions with PTGX as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
JOHNSON & JOHNSON Institution	Joaquin Duato CEO	32.30% $162.7M	3.94% 2.4M shares	Q3 2021 Held for 4y 2m	$503.7M
L Lynx1 Capital Management LP Hedge Fund•Sector	Weston Agnew Nichols CIO	9.47% $46.5M	1.13% 700.0K shares	Q1 2025 Held for 8 months	$491.3M
B BVF INC/IL Institution	-	6.90% $170.1M	4.12% 2.6M shares	Q1 2023 Held for 2y 8m	$2.5B
A ADAR1 Capital Management, LLC Hedge Fund•Long/Short	Daniel Pawel Schneeberger Managing Partner	6.61% $65.7M	1.59% 989.2K shares	Q4 2023 Held for 1y 11m	$993.7M
RTW INVESTMENTS, LLC Hedge Fund•Sector	Peter M Fong President	4.74% $382.4M	9.25% 5.8M shares	Q3 2019 Held for 6y 2m	$8.1B
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	3.32% $68.1M	1.65% 1.0M shares	Q2 2025 Held for 5 months	$2.0B
Deep Track Capital, LP Hedge Fund•Long/Short	David Eric Kroin CIO	3.24% $114.0M	2.76% 1.7M shares	Q4 2024 Held for 11 months	$3.5B
6 683 Capital Management, LLC Hedge Fund•Long/Short	Ari Jonathan Zweiman Managing Partner	2.55% $27.1M	0.66% 407.5K shares	Q4 2022 Held for 2y 11m	$1.1B
B Birchview Capital, LP Hedge Fund•Value	Matthew William Strobeck CIO	2.45% $3.2M	0.08% 48.0K shares	Q1 2021 Held for 4y 8m	$130.3M
Boxer Capital Management, LLC Hedge Fund•Long/Short	Aaron Isaac Davis CEO	2.41% $7.3M	0.18% 110.0K shares	Q2 2025 Held for 5 months	$303.5M