Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $7,509,000.00 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the completion of the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at approximately $52,410,617.36. This represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Protagonist Therapeutics Price Performance

NASDAQ PTGX traded down $3.55 on Tuesday, hitting $99.95. The company had a trading volume of 645,707 shares, compared to its average volume of 643,741. Protagonist Therapeutics, Inc. has a 12-month low of $43.20 and a 12-month high of $107.84. The company has a market capitalization of $6.43 billion, a PE ratio of -55.22 and a beta of 1.89. The company’s fifty day moving average price is $100.11 and its 200-day moving average price is $89.96.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.55. The company had revenue of $56.37 million during the quarter, compared to analyst estimates of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. On average, sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.32 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Leerink Partners lifted their price target on Protagonist Therapeutics from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, March 19th. Wedbush lifted their price target on Protagonist Therapeutics from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Citigroup reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Weiss Ratings downgraded Protagonist Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $121.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.69.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors have recently made changes to their positions in PTGX. Royal Bank of Canada raised its position in shares of 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 purchasing an additional 2,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Protagonist Therapeutics by 0.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after acquiring an additional 348 shares in the last quarter. Millennium Management LLC raised its position in shares of Protagonist Therapeutics by 283.6% during the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after acquiring an additional 99,269 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Protagonist Therapeutics during the 2nd quarter valued at approximately $987,000. Finally, Guggenheim Capital LLC raised its position in shares of Protagonist Therapeutics by 1.6% during the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock valued at $1,062,000 after acquiring an additional 303 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

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.