Insider Selling: Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells 34,438 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 34,438 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $82.48, for a total value of $2,840,446.24. Following the completion of the transaction, the chief executive officer 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 filing with the Securities & Exchange Commission, which is available through the SEC website.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX traded up $0.47 during trading hours on Wednesday, hitting $83.89. 1,086,072 shares of the company traded hands, compared to its average volume of 945,052. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 135.31 and a beta of 2.26. Protagonist Therapeutics, Inc. has a twelve month low of $33.70 and a twelve month high of $96.54. The business’s 50-day moving average is $86.58 and its 200-day moving average is $71.29.

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

Institutional Trading of Protagonist Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Canton Hathaway LLC acquired a new stake in Protagonist Therapeutics during the fourth quarter worth approximately $87,000. Palumbo Wealth Management LLC increased its position in shares of Protagonist Therapeutics by 20.3% in the fourth quarter. Palumbo Wealth Management LLC now owns 6,340 shares of the company’s stock worth $554,000 after purchasing an additional 1,072 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Protagonist Therapeutics in the fourth quarter valued at about $347,000. Exchange Traded Concepts LLC lifted its position in Protagonist Therapeutics by 4.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 35,039 shares of the company’s stock worth $3,060,000 after purchasing an additional 1,487 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Protagonist Therapeutics by 62.1% in the 4th quarter. GAMMA Investing LLC now owns 2,672 shares of the company’s stock valued at $233,000 after buying an additional 1,024 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PTGX. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Barclays boosted their target price on Protagonist Therapeutics from $88.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Truist Financial raised their price target on Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a report on Monday, January 5th. Finally, BTIG Research reiterated a “buy” rating and issued a $82.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Protagonist Therapeutics 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 ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.