Protagonist Therapeutics (NASDAQ:PTGX) CFO Sells $2,581,503.60 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali sold 24,765 shares of Protagonist Therapeutics stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $104.24, for a total value of $2,581,503.60. Following the completion of the sale, the chief financial officer owned 60,753 shares of the company’s stock, valued at approximately $6,332,892.72. The trade was a 28.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Asif Ali also recently made the following trade(s):

• On Tuesday, January 27th, Asif Ali sold 46,203 shares of Protagonist Therapeutics stock. The shares were sold at an average price of $83.13, for a total transaction of $3,840,855.39.
• On Tuesday, January 20th, Asif Ali sold 8,588 shares of Protagonist Therapeutics stock. The shares were sold at an average price of $82.48, for a total transaction of $708,338.24.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX opened at $98.97 on Friday. Protagonist Therapeutics, Inc. has a one year low of $39.60 and a one year high of $105.69. The company has a 50 day moving average of $88.99 and a 200-day moving average of $82.34. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of -48.28 and a beta of 2.23.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.16). Protagonist Therapeutics had a negative return on equity of 19.89% and a negative net margin of 282.83%.The business had revenue of $7.44 million for the quarter, compared to the consensus estimate of $14.92 million. Equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in PTGX. Farallon Capital Management LLC increased its stake in Protagonist Therapeutics by 0.4% during the 3rd quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock worth $411,601,000 after purchasing an additional 24,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Protagonist Therapeutics by 27.2% in the fourth quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock valued at $472,832,000 after buying an additional 1,156,461 shares in the last quarter. BVF Inc. IL lifted its stake in Protagonist Therapeutics by 24.7% in the second quarter. BVF Inc. IL now owns 3,211,041 shares of the company’s stock valued at $177,474,000 after buying an additional 636,026 shares in the last quarter. State Street Corp boosted its holdings in shares of Protagonist Therapeutics by 18.5% in the second quarter. State Street Corp now owns 3,207,543 shares of the company’s stock valued at $177,281,000 after buying an additional 500,924 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Protagonist Therapeutics by 66.2% in the fourth quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock valued at $276,992,000 after buying an additional 1,262,977 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Protagonist Therapeutics from $65.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. Johnson Rice reiterated a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. Weiss Ratings lowered Protagonist Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. Leerink Partners raised their target price on Protagonist Therapeutics from $107.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Finally, TD Cowen boosted their target price on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $107.31.

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.