Dinesh Ph Patel Sells 34,239 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 34,239 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $148.52, for a total value of $5,085,176.28. Following the completion of the sale, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at $77,746,952.56. This represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Price Performance

Shares of NASDAQ PTGX opened at $151.42 on Friday. Protagonist Therapeutics, Inc. has a one year low of $54.18 and a one year high of $154.99. The business’s fifty day moving average price is $128.61 and its 200-day moving average price is $107.26. The stock has a market capitalization of $9.80 billion, a PE ratio of 147.01 and a beta of 1.78.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wolfe Research initiated coverage on shares of Protagonist Therapeutics in a report on Thursday, May 21st. They issued an “outperform” rating and a $135.00 price objective for the company. Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday. UBS Group upgraded Protagonist Therapeutics to a “buy” rating in a research report on Monday. Citizens Jmp raised their price target on Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Finally, Johnson Rice set a $165.00 price target on Protagonist Therapeutics in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $137.86.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. NEXTBio Capital Management LP purchased a new position in shares of Protagonist Therapeutics during the 4th quarter valued at $20,055,000. Jennison Associates LLC bought a new position in shares of Protagonist Therapeutics in the fourth quarter worth $28,924,000. Clearbridge Investments LLC purchased a new stake in shares of Protagonist Therapeutics in the fourth quarter worth $42,783,000. Stempoint Capital LP raised its position in shares of Protagonist Therapeutics by 22.1% in the first quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock worth $7,650,000 after buying an additional 13,147 shares in the last quarter. Finally, Keystone Investors PTE Ltd. bought a new stake in Protagonist Therapeutics during the fourth quarter valued at $2,305,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.