Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $1,048,759.80 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 7,278 shares of Protagonist Therapeutics stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $144.10, for a total value of $1,048,759.80. Following the completion of the transaction, the chief executive officer owned 522,968 shares in the company, valued at $75,359,688.80. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Stock Up 0.0%

Shares of NASDAQ PTGX traded up $0.07 during mid-day trading on Thursday, reaching $145.16. 543,127 shares of the company were exchanged, compared to its average volume of 483,614. Protagonist Therapeutics, Inc. has a 1 year low of $57.53 and a 1 year high of $160.81. The firm has a 50-day moving average of $142.81 and a 200 day moving average of $116.73. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 140.93 and a beta of 1.80.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.02. The company had revenue of $213.47 million for the quarter, compared to analyst estimates of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The company’s revenue for the quarter was up 3746.8% compared to the same quarter last year. On average, equities analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current year.

Wall Street Analyst Weigh In

PTGX has been the topic of a number of analyst reports. Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Wolfe Research reissued an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday, August 31st. Zacks Research downgraded shares of Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. BMO Capital Markets lifted their price target on shares of Protagonist Therapeutics from $178.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, September 1st. Finally, Barclays upped their price target on Protagonist Therapeutics from $153.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Sixteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.13.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in Protagonist Therapeutics by 30.6% during the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock valued at $482,000 after purchasing an additional 2,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Protagonist Therapeutics by 0.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock valued at $1,810,000 after acquiring an additional 348 shares during the period. Millennium Management LLC lifted its position in Protagonist Therapeutics by 283.6% during the 1st 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 during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Protagonist Therapeutics during the 2nd quarter worth about $987,000. Finally, Guggenheim Capital LLC grew its stake in Protagonist Therapeutics by 1.6% during the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock valued at $1,062,000 after purchasing an additional 303 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist’s pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.