Protagonist Therapeutics (NASDAQ:PTGX) CEO Dinesh Ph Patel Sells 75,000 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares in the company, valued at $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Protagonist Therapeutics Trading Down 3.4%

PTGX stock opened at $99.95 on Wednesday. The stock has a market capitalization of $6.43 billion, a PE ratio of -55.22 and a beta of 1.89. Protagonist Therapeutics, Inc. has a 12-month low of $43.20 and a 12-month high of $107.84. The stock’s 50 day simple moving average is $100.11 and its 200 day simple moving average is $89.96.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.55. The business had revenue of $56.37 million for 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%. On average, research analysts predict that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current year.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors have recently bought and sold shares of PTGX. Royal Bank of Canada raised its holdings in Protagonist Therapeutics by 30.6% in the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after purchasing an additional 2,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 worth $1,810,000 after purchasing an additional 348 shares during the period. Millennium Management LLC raised its holdings in Protagonist Therapeutics by 283.6% in the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock worth $6,493,000 after purchasing an additional 99,269 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Protagonist Therapeutics in the 2nd quarter worth $987,000. Finally, Guggenheim Capital LLC raised its holdings in Protagonist Therapeutics by 1.6% in the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after purchasing an additional 303 shares during the period. 98.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PTGX shares. Barclays increased their price target on Protagonist Therapeutics from $113.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Truist Financial increased their price target on Protagonist Therapeutics from $110.00 to $121.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Johnson Rice reissued a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. Jefferies Financial Group reissued a “buy” rating and set a $121.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $95.00 to $106.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.69.

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.