Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $338,416.92 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 4,068 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $83.19, for a total value of $338,416.92. Following the transaction, the chief executive officer directly owned 574,505 shares of the company’s stock, valued at $47,793,070.95. The trade was a 0.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Protagonist Therapeutics Trading Up 0.9%

Shares of PTGX stock traded up $0.78 during trading hours on Tuesday, reaching $83.08. The stock had a trading volume of 507,797 shares, compared to its average volume of 747,674. The stock’s fifty day simple moving average is $86.49 and its 200 day simple moving average is $72.41. The firm has a market capitalization of $5.19 billion, a PE 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 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). 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%. As a group, equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PTGX. BTIG Research restated a “buy” rating and issued a $82.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. BMO Capital Markets reissued an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. JPMorgan Chase & Co. lifted their price target on Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Wedbush increased their price objective on Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, Truist Financial lifted their target price on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.77.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds have recently modified their holdings of PTGX. Farallon Capital Management LLC boosted its position in shares of Protagonist Therapeutics by 0.4% in the 3rd 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 in the last quarter. BVF Inc. IL boosted its holdings in Protagonist Therapeutics by 24.7% in the second quarter. BVF Inc. IL now owns 3,211,041 shares of the company’s stock worth $177,474,000 after acquiring an additional 636,026 shares in the last quarter. State Street Corp grew its stake in shares of Protagonist Therapeutics by 18.5% in the second quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after acquiring an additional 500,924 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of 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 last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Protagonist Therapeutics by 1.5% during 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. Institutional investors own 98.63% of the company’s stock.

About Protagonist Therapeutics

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.