Insider Selling: Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $1,048,759.80 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 7,278 shares of Protagonist Therapeutics stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $144.10, for a total value of $1,048,759.80. Following the sale, the chief executive officer owned 522,968 shares in the company, valued at $75,359,688.80. This represents a 1.37% decrease in their ownership of the stock. The transaction 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 2.1%

PTGX opened at $148.18 on Friday. The stock has a fifty day simple moving average of $143.14 and a two-hundred day simple moving average of $116.95. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 143.87 and a beta of 1.80. Protagonist Therapeutics, Inc. has a 12-month low of $57.90 and a 12-month high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.27 by $0.02. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The business had revenue of $213.47 million during the quarter, compared to analyst estimates of $212.03 million. The business’s quarterly revenue was up 3746.8% compared to the same quarter last year. On average, analysts predict that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. HC Wainwright raised their target price on shares of Protagonist Therapeutics from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Zacks Research cut Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Citigroup upped their price target on Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Sixteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $147.13.

Institutional Trading of Protagonist Therapeutics

Several institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP bought a new stake in Protagonist Therapeutics during the 2nd quarter valued at about $536,000. Arizona State Retirement System lifted its stake in shares of Protagonist Therapeutics by 2.5% in the second quarter. Arizona State Retirement System now owns 14,085 shares of the company’s stock worth $1,727,000 after buying an additional 347 shares in the last quarter. Nykredit A S bought a new position in shares of Protagonist Therapeutics in the second quarter worth approximately $296,000. Amundi grew its holdings in shares of Protagonist Therapeutics by 87.0% during the second quarter. Amundi now owns 7,692 shares of the company’s stock valued at $943,000 after buying an additional 3,579 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Protagonist Therapeutics during the second quarter valued at approximately $1,373,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

About Protagonist Therapeutics

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.