Protagonist Therapeutics (PTGX) Lowered to “Sell” at BidaskClub

Protagonist Therapeutics (NASDAQ:PTGX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other analysts have also commented on PTGX. Zacks Investment Research lowered Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 18th. BMO Capital Markets dropped their price objective on Protagonist Therapeutics from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.67.

Shares of Protagonist Therapeutics (PTGX) traded down $0.05 during mid-day trading on Friday, reaching $18.99. The company had a trading volume of 116,376 shares, compared to its average volume of 85,215. Protagonist Therapeutics has a 52 week low of $8.00 and a 52 week high of $21.68.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Monday, November 6th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.40. The company had revenue of $8.78 million for the quarter.

In other news, insider David Y. Liu sold 7,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $16.97, for a total value of $118,790.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Thomas P. O’neil sold 8,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $20.00, for a total value of $160,000.00. Following the completion of the sale, the chief financial officer now directly owns 4,000 shares in the company, valued at $80,000. The disclosure for this sale can be found here. Insiders sold 22,944 shares of company stock worth $438,629 over the last ninety days. Corporate insiders own 15.50% of the company’s stock.

Several large investors have recently modified their holdings of PTGX. Rhumbline Advisers acquired a new stake in shares of Protagonist Therapeutics in the second quarter worth approximately $114,000. Bank of New York Mellon Corp boosted its stake in shares of Protagonist Therapeutics by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 27,626 shares of the company’s stock worth $313,000 after acquiring an additional 1,478 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Protagonist Therapeutics by 71.4% in the second quarter. Teachers Advisors LLC now owns 16,218 shares of the company’s stock worth $183,000 after acquiring an additional 6,757 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Protagonist Therapeutics by 19.5% in the second quarter. TIAA CREF Investment Management LLC now owns 23,372 shares of the company’s stock worth $264,000 after acquiring an additional 3,812 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Protagonist Therapeutics by 24.0% in the second quarter. Northern Trust Corp now owns 98,825 shares of the company’s stock worth $1,118,000 after acquiring an additional 19,159 shares during the last quarter. 39.68% of the stock is currently owned by hedge funds and other institutional investors.

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Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs.

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