Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $1,633,855.85 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 19,315 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $84.59, for a total transaction of $1,633,855.85. Following the completion of the transaction, the chief executive officer directly owned 574,505 shares of the company’s stock, valued at approximately $48,597,377.95. This represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Protagonist Therapeutics Trading Up 0.9%

Shares of NASDAQ:PTGX traded up $0.78 during trading on Tuesday, reaching $83.08. The company had a trading volume of 507,797 shares, compared to its average volume of 747,674. The company has a fifty day moving average of $86.49 and a two-hundred day moving average of $72.41. The stock has a market capitalization of $5.19 billion, a P/E ratio of 134.00 and a beta of 2.26. Protagonist Therapeutics, Inc. has a 12 month low of $33.70 and a 12 month high of $96.54.

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

Wall Street Analysts Forecast Growth

PTGX has been the subject of several research reports. Citizens Jmp upped their target price on Protagonist Therapeutics from $69.00 to $102.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, December 24th. BTIG Research reissued a “buy” rating and issued a $82.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, October 28th. Citigroup upped their price target on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.77.

Hedge Funds Weigh In On Protagonist Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Farallon Capital Management LLC grew its stake in shares of Protagonist Therapeutics by 0.4% in the third quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock worth $411,601,000 after purchasing an additional 24,000 shares during the last quarter. BVF Inc. IL grew its position in shares of Protagonist Therapeutics by 24.7% in the 2nd quarter. BVF Inc. IL now owns 3,211,041 shares of the company’s stock worth $177,474,000 after buying an additional 636,026 shares during the last quarter. State Street Corp raised its holdings in shares of Protagonist Therapeutics by 18.5% during the second quarter. State Street Corp now owns 3,207,543 shares of the company’s stock valued at $177,281,000 after acquiring an additional 500,924 shares in the last quarter. Wellington Management Group LLP lifted its stake in Protagonist Therapeutics by 83.9% in the third quarter. Wellington Management Group LLP now owns 1,908,446 shares of the company’s stock worth $126,778,000 after acquiring an additional 870,708 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Protagonist Therapeutics by 1.5% in the second quarter. Geode Capital Management LLC now owns 1,444,230 shares of the company’s stock valued at $79,833,000 after acquiring an additional 20,671 shares in the last quarter. 98.63% of the stock is owned by institutional investors.

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.