Dinesh V. Ph D. Patel Sells 5,359 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 5,359 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the transaction, the chief executive officer now directly owns 540,260 shares in the company, valued at $20,627,126.80. This represents a 0.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Protagonist Therapeutics Trading Up 0.7 %

Protagonist Therapeutics stock opened at $38.75 on Friday. The firm’s 50 day simple moving average is $38.41 and its 200 day simple moving average is $41.83. Protagonist Therapeutics, Inc. has a 1-year low of $24.22 and a 1-year high of $48.89. The firm has a market capitalization of $2.31 billion, a PE ratio of 14.57 and a beta of 2.22.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

PTGX has been the topic of a number of research reports. JMP Securities restated a “market outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Wedbush reiterated an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price objective on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Protagonist Therapeutics has an average rating of “Moderate Buy” and an average price target of $56.00.

Institutional Trading of Protagonist Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC purchased a new position in shares of Protagonist Therapeutics during the fourth quarter worth about $38,000. Exchange Traded Concepts LLC bought a new stake in Protagonist Therapeutics during the third quarter valued at approximately $43,000. GF Fund Management CO. LTD. purchased a new position in Protagonist Therapeutics in the 4th quarter worth approximately $48,000. CWM LLC grew its stake in Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after buying an additional 1,147 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Protagonist Therapeutics by 5,200.0% in the 4th quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after buying an additional 1,612 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.