Dinesh Ph Patel Sells 19,315 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 19,315 shares of Protagonist Therapeutics stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $84.59, for a total transaction of $1,633,855.85. Following the sale, the chief executive officer directly owned 574,505 shares in the company, valued at $48,597,377.95. The trade was a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Protagonist Therapeutics Price Performance

PTGX stock traded up $0.78 during trading on Tuesday, reaching $83.08. The company had a trading volume of 507,797 shares, compared to its average volume of 747,674. Protagonist Therapeutics, Inc. has a 52 week low of $33.70 and a 52 week high of $96.54. The business has a 50 day moving average of $86.49 and a 200 day moving average of $72.41. The company has a market cap of $5.19 billion, a P/E ratio of 134.00 and a beta of 2.26.

Protagonist Therapeutics (NASDAQ:PTGX) last posted 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). The firm had revenue of $4.71 million for the quarter, compared to analysts’ expectations of $5.41 million. Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%. Research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PTGX. Citigroup increased their price target on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a research report on Wednesday, October 8th. Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, December 24th. Barclays raised their price target on shares of Protagonist Therapeutics from $88.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Finally, Johnson Rice set a $112.00 price objective on Protagonist Therapeutics in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 156 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Protagonist Therapeutics in the second quarter worth $27,000. Bessemer Group Inc. grew its holdings in shares of Protagonist Therapeutics by 171.0% in the second quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock worth $28,000 after acquiring an additional 318 shares during the period. Salomon & Ludwin LLC purchased a new stake in Protagonist Therapeutics during the third quarter valued at $29,000. Finally, CWM LLC lifted its holdings in Protagonist Therapeutics by 201.5% in the second quarter. CWM LLC now owns 609 shares of the company’s stock valued at $34,000 after acquiring an additional 407 shares during the period. Institutional investors own 98.63% of the company’s stock.

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 ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.