Asif Ali Sells 24,765 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali sold 24,765 shares of the business’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $104.24, for a total transaction of $2,581,503.60. Following the completion of the sale, the chief financial officer directly owned 60,753 shares in the company, valued at $6,332,892.72. This represents a 28.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Asif Ali also recently made the following trade(s):

• On Tuesday, January 27th, Asif Ali sold 46,203 shares of Protagonist Therapeutics stock. The stock was sold at an average price of $83.13, for a total transaction of $3,840,855.39.
• On Tuesday, January 20th, Asif Ali sold 8,588 shares of Protagonist Therapeutics stock. The stock was sold at an average price of $82.48, for a total value of $708,338.24.

Protagonist Therapeutics Price Performance

PTGX opened at $98.97 on Friday. The business’s 50-day moving average price is $88.99 and its two-hundred day moving average price is $82.34. Protagonist Therapeutics, Inc. has a 1 year low of $39.60 and a 1 year high of $105.69. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of -48.28 and a beta of 2.23.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.16). The firm had revenue of $7.44 million during the quarter, compared to the consensus estimate of $14.92 million. Protagonist Therapeutics had a negative net margin of 282.83% and a negative return on equity of 19.89%. Sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of Protagonist Therapeutics by 30.6% in the first quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock valued at $482,000 after buying an additional 2,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after buying an additional 348 shares during the last quarter. Millennium Management LLC raised its position in Protagonist Therapeutics by 283.6% during the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock worth $6,493,000 after acquiring an additional 99,269 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Protagonist Therapeutics by 21.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,414 shares of the company’s stock valued at $133,000 after acquiring an additional 422 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Protagonist Therapeutics by 18.1% in the second quarter. Handelsbanken Fonder AB now owns 17,000 shares of the company’s stock valued at $940,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

PTGX has been the subject of a number of recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $121.00 price target on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. Barclays lifted their price objective on shares of Protagonist Therapeutics from $113.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. TD Cowen boosted their price objective on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Truist Financial increased their target price on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, HC Wainwright raised their target price on shares of Protagonist Therapeutics from $80.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.31.

Protagonist Therapeutics Company Profile

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.