Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $2,840,446.24 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 34,438 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $82.48, for a total transaction of $2,840,446.24. Following the transaction, the chief executive officer owned 580,505 shares in the company, valued at $47,880,052.40. The trade was a 5.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Protagonist Therapeutics Trading Up 0.6%

Shares of Protagonist Therapeutics stock traded up $0.47 during midday trading on Wednesday, reaching $83.89. The company had a trading volume of 1,086,072 shares, compared to its average volume of 945,052. The stock has a fifty day simple moving average of $86.58 and a 200 day simple moving average of $71.29. Protagonist Therapeutics, Inc. has a 1-year low of $33.70 and a 1-year high of $96.54. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 135.31 and a beta of 2.26.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. Citigroup lifted 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. BTIG Research reiterated a “buy” rating and set a $82.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. Truist Financial raised their price target on Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Johnson Rice set a $112.00 price objective on Protagonist Therapeutics in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.77.

Institutional Investors Weigh In On Protagonist Therapeutics

Several large investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in Protagonist Therapeutics by 30.6% in the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock valued at $482,000 after acquiring an additional 2,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Protagonist Therapeutics by 0.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after purchasing an additional 348 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Protagonist Therapeutics by 283.6% in the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after purchasing an additional 99,269 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Protagonist Therapeutics by 104.7% during the second quarter. Assenagon Asset Management S.A. now owns 91,875 shares of the company’s stock worth $5,078,000 after buying an additional 47,003 shares during the period. Finally, Palumbo Wealth Management LLC bought a new position in shares of Protagonist Therapeutics during the second quarter worth about $416,000. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.