Asif Ali Sells 8,588 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali sold 8,588 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $82.48, for a total value of $708,338.24. Following the completion of the sale, the chief financial officer owned 78,077 shares in the company, valued at $6,439,790.96. The trade was a 9.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Protagonist Therapeutics Trading Up 1.1%

Shares of PTGX stock opened at $84.79 on Friday. The stock has a 50 day moving average of $86.59 and a 200 day moving average of $71.47. The stock has a market cap of $5.30 billion, a P/E ratio of 136.76 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.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.03). The company had revenue of $4.71 million during 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%. On average, research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PTGX shares. Johnson Rice set a $112.00 price objective on shares of Protagonist Therapeutics in a report on Monday, October 13th. BTIG Research restated a “buy” rating and set a $82.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. Truist Financial upped their price target on Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, January 5th. JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Citizens Jmp boosted their price objective on Protagonist Therapeutics from $69.00 to $102.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.77.

Institutional Investors Weigh In On Protagonist Therapeutics

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in shares of Protagonist Therapeutics by 30.6% during the first quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock valued at $482,000 after acquiring an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Protagonist Therapeutics by 0.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after acquiring an additional 348 shares during the last quarter. Millennium Management LLC increased its position in shares of Protagonist Therapeutics by 283.6% during the first 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 in the last quarter. Assenagon Asset Management S.A. raised its stake in Protagonist Therapeutics by 104.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 91,875 shares of the company’s stock valued at $5,078,000 after purchasing an additional 47,003 shares during the last quarter. Finally, Palumbo Wealth Management LLC acquired a new position in Protagonist Therapeutics in the 2nd quarter valued at $416,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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 α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.