Protagonist Therapeutics (NASDAQ:PTGX) CEO Dinesh Ph Patel Sells 4,068 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 4,068 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $83.19, for a total value of $338,416.92. Following the completion of the transaction, the chief executive officer directly owned 574,505 shares of the company’s stock, valued at approximately $47,793,070.95. The trade was a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Protagonist Therapeutics Price Performance

NASDAQ PTGX opened at $83.08 on Wednesday. Protagonist Therapeutics, Inc. has a one year low of $33.70 and a one year high of $96.54. The firm has a market cap of $5.19 billion, a P/E ratio of 134.00 and a beta of 2.26. The stock’s 50-day moving average is $86.49 and its 200-day moving average is $72.41.

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

Analyst Upgrades and Downgrades

PTGX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. BMO Capital Markets restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Monday, October 13th. BTIG Research reiterated a “buy” rating and set a $82.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, October 28th. Truist Financial lifted their target price on Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Finally, Barclays upped their price target on Protagonist Therapeutics from $88.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.77.

Protagonist Therapeutics News Summary

Here are the key news stories impacting Protagonist Therapeutics this week:

• Negative Sentiment: CEO Dinesh V. Patel sold a total of 48,273 shares across three transactions (Jan. 23, Jan. 26 and Jan. 27) at prices between ~$83.19–$84.59, totaling roughly $4.06M. He still holds 574,505 shares. Large, repeated CEO sales may signal diversification or cashing-out at recent price levels and can be perceived negatively by the market. CEO filings
• Negative Sentiment: CFO Asif Ali sold 46,203 shares on Jan. 27 at an average price of $83.13 for about $3.84M, reducing his stake by ~43% to 60,320 shares. A CFO trimming nearly half of his position is a more notable red flag for investors because of the officer’s financial perspective and the size of the reduction. CFO filing
• Negative Sentiment: Insider Arturo Md Molina sold 13,151 shares on Jan. 23 (avg $82.42) and 5,000 shares on Jan. 27 (avg $82.00), totaling 18,151 shares and roughly $1.49M in proceeds; he retains 84,115 shares. Multiple insider sales by senior executives and directors can collectively amplify negative market perception. Insider filings

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Evergreen Capital Management LLC acquired a new position in shares of Protagonist Therapeutics during the 4th quarter worth approximately $246,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Protagonist Therapeutics by 26.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,038 shares of the company’s stock valued at $265,000 after buying an additional 633 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 156 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Protagonist Therapeutics by 29.5% during the fourth quarter. State of Alaska Department of Revenue now owns 38,099 shares of the company’s stock worth $3,327,000 after buying an additional 8,674 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in Protagonist Therapeutics during the fourth quarter worth $224,000. 98.63% of the stock is owned by institutional investors and hedge funds.

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