Protagonist Therapeutics (NASDAQ:PTGX) CEO Dinesh Ph Patel Sells 63,548 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 63,548 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $146.18, for a total transaction of $9,289,446.64. Following the sale, the chief executive officer directly owned 522,968 shares of the company’s stock, valued at $76,447,462.24. This represents a 10.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Trading Up 0.0%

PTGX opened at $145.16 on Friday. The stock has a market capitalization of $9.39 billion, a P/E ratio of 140.93 and a beta of 1.80. Protagonist Therapeutics, Inc. has a 12 month low of $57.53 and a 12 month high of $160.81. The firm’s fifty day simple moving average is $142.81 and its 200 day simple moving average is $116.73.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.02. The firm had revenue of $213.47 million during the quarter, compared to analysts’ expectations of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The business’s revenue for the quarter was up 3746.8% on a year-over-year basis. On average, equities research analysts predict that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PTGX shares. Truist Financial lifted their target price on Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Wedbush raised their price target on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Citigroup raised their price target on shares of Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Barclays boosted their price objective on shares of Protagonist Therapeutics from $153.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Sixteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.13.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Protagonist Therapeutics by 30.6% during the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after purchasing an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Protagonist Therapeutics by 0.9% in 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 buying an additional 348 shares during the last quarter. Millennium Management LLC grew its stake 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 buying an additional 99,269 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Protagonist Therapeutics in the second quarter valued at $987,000. Finally, Guggenheim Capital LLC grew its stake in shares of Protagonist Therapeutics by 1.6% in the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock valued at $1,062,000 after buying an additional 303 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist’s pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.