Protagonist Therapeutics (NASDAQ:PTGX) Shares Down 5.6% – Here’s What Happened

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) shares dropped 5.6% during trading on Thursday . The stock traded as low as $85.04 and last traded at $84.33. Approximately 448,795 shares changed hands during trading, a decline of 55% from the average daily volume of 1,001,729 shares. The stock had previously closed at $89.34.

Analyst Upgrades and Downgrades

Several research firms recently commented on PTGX. Weiss Ratings reissued a “sell (d+)” rating on shares of Protagonist Therapeutics in a research note on Wednesday, October 8th. Citigroup upped their target price on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Wedbush raised their price target on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Barclays upped their price objective on shares of Protagonist Therapeutics from $88.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Leerink Partnrs raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.08.

Protagonist Therapeutics Stock Down 4.0%

The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 138.37 and a beta of 2.19. The company’s 50-day moving average is $83.03 and its 200-day moving average is $65.93.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.03). Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. The firm had revenue of $4.71 million for the quarter, compared to analysts’ expectations of $5.41 million. Sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In related news, Director William D. Waddill sold 12,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $81.62, for a total value of $979,440.00. Following the completion of the sale, the director owned 5,130 shares in the company, valued at approximately $418,710.60. This trade represents a 70.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors have recently modified their holdings of the company. American Century Companies Inc. increased its stake in Protagonist Therapeutics by 18.7% during the second quarter. American Century Companies Inc. now owns 813,995 shares of the company’s stock worth $44,990,000 after purchasing an additional 128,171 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of Protagonist Therapeutics in the second quarter valued at approximately $6,641,000. Hsbc Holdings PLC increased its stake in Protagonist Therapeutics by 4.1% during the 1st quarter. Hsbc Holdings PLC now owns 8,458 shares of the company’s stock worth $405,000 after buying an additional 330 shares during the period. Fred Alger Management LLC acquired a new stake in Protagonist Therapeutics during the 1st quarter worth approximately $362,000. Finally, Inspire Investing LLC lifted its holdings in Protagonist Therapeutics by 106.9% during the 1st quarter. Inspire Investing LLC now owns 21,834 shares of the company’s stock worth $1,056,000 after buying an additional 11,279 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

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 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.