Insider Selling: Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $2,091,506.70 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 24,890 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $84.03, for a total value of $2,091,506.70. Following the transaction, the chief executive officer directly owned 574,505 shares in the company, valued at approximately $48,275,655.15. This represents a 4.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $79.73 on Friday. The company has a market capitalization of $4.98 billion, a PE ratio of 128.60 and a beta of 2.26. Protagonist Therapeutics, Inc. has a one year low of $33.70 and a one year high of $96.54. The company’s fifty day moving average price is $86.33 and its 200 day moving average price is $72.53.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly 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 business had revenue of $4.71 million during the quarter, compared to analyst estimates of $5.41 million. Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. Analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its stake in shares of Protagonist Therapeutics by 11.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,403 shares of the company’s stock valued at $91,000 after buying an additional 146 shares in the last quarter. Farther Finance Advisors LLC increased its position in Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 156 shares in the last quarter. Parkman Healthcare Partners LLC raised its stake in shares of Protagonist Therapeutics by 0.4% in the third quarter. Parkman Healthcare Partners LLC now owns 61,849 shares of the company’s stock worth $4,109,000 after acquiring an additional 253 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Protagonist Therapeutics by 1.6% during the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after purchasing an additional 303 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Protagonist Therapeutics by 138.9% during the third quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $36,000 after purchasing an additional 314 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Analyst Ratings Changes

PTGX has been the subject of several research reports. BTIG Research reissued a “buy” rating and issued a $82.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. Barclays increased their price objective on shares of Protagonist Therapeutics from $88.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. Johnson Rice set a $112.00 price objective on Protagonist Therapeutics in a research note on Monday, October 13th. Finally, Wedbush lifted their price objective on Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $86.77.

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 ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.