Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $2,840,446.24 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 34,438 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $82.48, for a total transaction of $2,840,446.24. Following the completion of the transaction, the chief executive officer directly owned 580,505 shares of the company’s stock, valued at $47,880,052.40. The trade was a 5.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Protagonist Therapeutics Price Performance

Protagonist Therapeutics stock opened at $83.10 on Friday. The stock has a market capitalization of $5.20 billion, a P/E ratio of 134.03 and a beta of 2.26. Protagonist Therapeutics, Inc. has a 12-month low of $33.70 and a 12-month high of $96.54. The firm’s 50-day moving average is $86.56 and its two-hundred day moving average is $71.70.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.03). Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. The firm had revenue of $4.71 million for the quarter, compared to analysts’ expectations of $5.41 million. As a group, analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. lifted its position in Protagonist Therapeutics by 18.7% during the second quarter. American Century Companies Inc. now owns 813,995 shares of the company’s stock valued at $44,990,000 after buying an additional 128,171 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Protagonist Therapeutics in the 2nd quarter valued at $6,641,000. Voya Investment Management LLC lifted its holdings in shares of Protagonist Therapeutics by 8.9% during the 3rd quarter. Voya Investment Management LLC now owns 305,419 shares of the company’s stock valued at $20,289,000 after acquiring an additional 25,065 shares in the last quarter. Nan Fung Trinity HK Ltd. purchased a new stake in Protagonist Therapeutics during the 2nd quarter worth $7,464,000. Finally, Creative Planning boosted its position in Protagonist Therapeutics by 74.3% during the 2nd quarter. Creative Planning now owns 30,204 shares of the company’s stock worth $1,669,000 after purchasing an additional 12,871 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PTGX has been the subject of a number of recent analyst reports. Citigroup lifted their price objective on Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, December 8th. BTIG Research restated a “buy” rating and issued a $82.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, October 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, October 13th. Citizens Jmp raised their target price on shares of Protagonist Therapeutics from $69.00 to $102.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Finally, Johnson Rice set a $112.00 target price on shares of Protagonist Therapeutics in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $86.77.

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 α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.