Protagonist Therapeutics (NASDAQ:PTGX) Director Sells $969,120.00 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Director William Waddill sold 9,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $107.68, for a total value of $969,120.00. Following the transaction, the director directly owned 7,825 shares in the company, valued at approximately $842,596. The trade was a 53.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Trading Down 0.0%

PTGX opened at $109.78 on Friday. The stock’s 50-day moving average price is $101.71 and its 200 day moving average price is $93.22. Protagonist Therapeutics, Inc. has a 12-month low of $49.38 and a 12-month high of $111.78. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of -60.65 and a beta of 1.85.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.55. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%.The firm had revenue of $56.37 million for the quarter, compared to analyst estimates of $11.70 million. On average, research analysts forecast that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Jennison Associates LLC purchased a new position in shares of Protagonist Therapeutics in the 4th quarter valued at about $28,924,000. Farallon Capital Management LLC increased its holdings 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 valued at $411,601,000 after acquiring an additional 24,000 shares during the last quarter. Mangrove Partners IM LLC increased its holdings in shares of Protagonist Therapeutics by 21.0% in the 3rd quarter. Mangrove Partners IM LLC now owns 478,413 shares of the company’s stock valued at $31,781,000 after acquiring an additional 83,030 shares during the last quarter. Eagle Health Investments LP purchased a new position in shares of Protagonist Therapeutics in the 4th quarter valued at about $5,005,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at about $391,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PTGX. Jefferies Financial Group reissued a “buy” rating and set a $121.00 target price on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. TD Cowen upped their price target on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Barclays upped their price target on Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. JPMorgan Chase & Co. upped their price target on Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Finally, Citigroup restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.21.

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.