RTW Investments PTGX Position
Active9-Fund ConvergenceRTW Investments trimmed their position in Protagonist Therapeutics Inc. (PTGX) in Q4 2025, holding $441.9M worth of shares across 5,059,053 shares.
The position was first reported in Q1 2023 and has been tracked across 12 quarterly 13F filings.
PTGX is a convergence signal: 9 specialist biotech funds hold this stock, suggesting high institutional conviction.
Short interest stands at 15.1% of float with 12.4 days to cover, indicating significant bearish positioning against RTW Investments's long thesis.
About Protagonist Therapeutics Inc.
Protagonist Therapeutics, Inc., a biopharmaceutical company, discovers and develops peptide-based therapeutic drugs to address 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 patients with polycythemia vera and hereditary hemochromatosis, as well as for the treatment of other blood disorders; PN-943, an oral, alpha-4-beta-7 integrin- specific antagonist peptide that is in Phase II clinical trials for treating inflammatory bowel disease (IBD); and PN-235, an orally delivered interleukin-23 receptor specific antagonist for the treatment of IBD and non-IBD indications. The company has a license and collaboration agreement with Janssen Biotech, Inc. Protagonist Therapeutics, Inc. was incorporated in 2006 and is headquartered in Newark, California.
Full company profile →Short Interest
15.1%
12.4 days to cover
RTW Investments PTGX Position History
| Quarter | Action | Shares | Change | Value |
|---|---|---|---|---|
| Q4 2025 | Decreased | 5,059,053 | -697,224 | $441.9M |
| Q3 2025 | Held | 5,756,277 | — | $382.4M |
| Q2 2025 | Increased | 5,756,277 | +36,862 | $318.1M |
| Q1 2025 | Increased | 5,719,415 | +220,870 | $276.6M |
| Q4 2024 | Increased | 5,498,545 | +72,433 | $212.2M |
| Q3 2024 | Increased | 5,426,112 | +139,708 | $244.2M |
| Q2 2024 | Decreased | 5,286,404 | -29,110 | $183.2M |
| Q1 2024 | Held | 5,315,514 | — | $153.8M |
| Q4 2023 | Decreased | 5,315,514 | -100,000 | $121.9M |
| Q3 2023 | Held | 5,415,514 | — | $90.3M |
| Q2 2023 | Increased | 5,415,514 | +814,715 | $149.6M |
| Q1 2023 | New | 4,600,799 | +4,600,799 | $105.8M |
Frequently Asked Questions
Does RTW Investments own PTGX?
Yes. As of Q4 2025, RTW Investments holds 5,059,053 shares of Protagonist Therapeutics Inc. (PTGX) valued at $441.9M. This data comes from their SEC 13F filing.
How many hedge funds own PTGX?
9 specialist biotech hedge funds currently hold PTGX, including Deep Track Capital, BVF Partners, Perceptive Advisors and 5 more. When 3 or more specialist funds hold the same stock, BiotechEdge flags it as a convergence signal.
When did RTW Investments first buy PTGX?
RTW Investments's position in PTGX was first reported in Q1 2023. 13F filings are reported with a 45-day delay, so the actual purchase may have occurred earlier in the quarter.
Is RTW Investments's PTGX position increasing or decreasing?
RTW Investments trimmed their PTGX position in the most recent quarter, reducing by 697,224 shares.
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