Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Down 4.4% – What’s Next?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s share price was down 4.4% during trading on Monday . The company traded as low as $37.75 and last traded at $37.82. Approximately 126,738 shares were traded during trading, a decline of 59% from the average daily volume of 311,539 shares. The stock had previously closed at $39.57.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They issued a “neutral” rating and a $47.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, December 10th. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They issued an “outperform” rating and a $62.00 price objective for the company. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.78.

Protagonist Therapeutics Price Performance

The firm has a market cap of $2.24 billion, a P/E ratio of 14.14 and a beta of 2.23. The firm’s 50-day moving average price is $42.09 and its 200 day moving average price is $41.50.

Insider Transactions at Protagonist Therapeutics

In other news, insider Suneel Gupta sold 103,437 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the transaction, the insider now owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. This represents a 28.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $40.98, for a total transaction of $78,107.88. Following the transaction, the insider now directly owns 46,444 shares in the company, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,863 shares of company stock worth $9,689,847. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Protagonist Therapeutics by 749.2% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after buying an additional 487 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Protagonist Therapeutics in the 3rd quarter valued at about $43,000. CWM LLC boosted its position in shares of Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after purchasing an additional 1,147 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $69,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Protagonist Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after purchasing an additional 379 shares in the last quarter. 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.