Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $9,805,622.71 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 65,761 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $149.11, for a total value of $9,805,622.71. Following the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at $78,055,804.58. This trade represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Stock Up 2.4%

PTGX stock opened at $155.10 on Friday. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 150.58 and a beta of 1.78. Protagonist Therapeutics, Inc. has a twelve month low of $54.18 and a twelve month high of $155.53. The business has a 50 day moving average price of $129.77 and a two-hundred day moving average price of $107.59.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data 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 company had revenue of $213.47 million for 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 quarterly revenue was up 3746.8% on a year-over-year basis. On average, equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PTGX has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday. Barclays boosted their price objective on shares of Protagonist Therapeutics from $151.00 to $153.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Truist Financial upped their target price on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a report on Monday. Zacks Research downgraded shares of Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Citizens Jmp lifted their price target on Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTGX. Jupiter Topco LLC acquired a new stake in shares of Protagonist Therapeutics during the 2nd quarter worth about $261,039,000. Elmind Capital LP acquired a new position in Protagonist Therapeutics in the 2nd quarter valued at about $4,658,040,000. J. Goldman & Co LP bought a new position in Protagonist Therapeutics in the 2nd quarter valued at about $1,154,000. ADAR1 Capital Management LLC bought a new position in Protagonist Therapeutics in the 2nd quarter valued at about $117,783,000. Finally, Hsbc Holdings PLC acquired a new stake in Protagonist Therapeutics during the second quarter worth approximately $3,198,000. 98.63% of the stock is owned by institutional investors.

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