William Waddill Sells 9,000 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Director William Waddill sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total transaction of $1,061,460.00. Following the completion of the transaction, the director owned 7,825 shares of the company’s stock, valued at approximately $922,880.50. The trade was a 53.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Stock Down 0.6%

Shares of NASDAQ:PTGX opened at $121.88 on Friday. The firm has a fifty day moving average of $104.39 and a two-hundred day moving average of $95.18. Protagonist Therapeutics, Inc. has a 12-month low of $49.38 and a 12-month high of $126.25. The firm has a market capitalization of $7.84 billion, a P/E ratio of -67.34 and a beta of 1.85.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.50) by $0.55. The business had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. Equities research analysts expect that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after acquiring an additional 156 shares during the period. Greenline Wealth Management LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its position in shares of Protagonist Therapeutics by 138.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $36,000 after purchasing an additional 314 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of Protagonist Therapeutics by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after purchasing an additional 525 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Protagonist Therapeutics by 222.4% in the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company’s stock worth $83,000 after purchasing an additional 656 shares during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on PTGX. Wolfe Research started coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They set an “outperform” rating and a $135.00 price target for the company. Wall Street Zen downgraded shares of Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Truist Financial upped their target price on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Leerink Partners upped their target price on shares of Protagonist Therapeutics from $107.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, March 19th. Finally, Citigroup reissued an “outperform” rating on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $115.21.

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.