Lewis Williams Sells 18,000 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Director Lewis Williams sold 18,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $82.42, for a total transaction of $1,483,560.00. Following the completion of the sale, the director owned 7,825 shares in the company, valued at approximately $644,936.50. This trade represents a 69.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Protagonist Therapeutics Stock Up 0.1%

PTGX opened at $83.09 on Friday. The company has a market cap of $5.19 billion, a PE ratio of 134.02 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. The company has a 50-day moving average price of $84.62 and a 200 day moving average price of $75.42.

Analyst Upgrades and Downgrades

PTGX has been the subject of several research reports. Wedbush boosted their price target on Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Weiss Ratings cut shares of Protagonist Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Truist Financial upped their target price on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, January 5th. BTIG Research reissued a “buy” rating and issued a $82.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, October 28th. Finally, Citigroup upped their price objective on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Protagonist Therapeutics has an average rating of “Moderate Buy” and an average target price of $93.38.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds have recently modified their holdings of PTGX. Invesco Ltd. raised its stake in Protagonist Therapeutics by 56.2% during the fourth quarter. Invesco Ltd. now owns 1,567,840 shares of the company’s stock worth $136,935,000 after purchasing an additional 564,134 shares during the period. KVP Capital Advisors LP purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at approximately $4,629,000. Virtus Investment Advisers LLC lifted its holdings in Protagonist Therapeutics by 38.1% in the fourth quarter. Virtus Investment Advisers LLC now owns 2,790 shares of the company’s stock valued at $244,000 after acquiring an additional 770 shares during the last quarter. Wellington Management Group LLP grew its position in Protagonist Therapeutics by 66.2% in the fourth quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock worth $276,992,000 after acquiring an additional 1,262,977 shares during the period. Finally, SummitTX Capital L.P. increased its stake in Protagonist Therapeutics by 34.2% during the fourth quarter. SummitTX Capital L.P. now owns 42,266 shares of the company’s stock worth $3,692,000 after acquiring an additional 10,776 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.