Dinesh Ph Patel Sells 34,438 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 34,438 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $82.48, for a total transaction of $2,840,446.24. Following the transaction, the chief executive officer directly owned 580,505 shares of the company’s stock, valued at $47,880,052.40. This represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Protagonist Therapeutics Price Performance

PTGX stock opened at $84.79 on Friday. The company has a market capitalization of $5.30 billion, a P/E ratio of 136.76 and a beta of 2.26. Protagonist Therapeutics, Inc. has a 12 month low of $33.70 and a 12 month high of $96.54. The firm’s fifty day simple moving average is $86.59 and its 200-day simple moving average is $71.47.

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

Institutional Trading of Protagonist Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in PTGX. Farallon Capital Management LLC lifted its position in shares of Protagonist Therapeutics by 0.4% during the 3rd quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock valued at $411,601,000 after buying an additional 24,000 shares in the last quarter. BVF Inc. IL raised its position in Protagonist Therapeutics by 24.7% during the second quarter. BVF Inc. IL now owns 3,211,041 shares of the company’s stock worth $177,474,000 after acquiring an additional 636,026 shares during the period. State Street Corp lifted its holdings in Protagonist Therapeutics by 18.5% during the second quarter. State Street Corp now owns 3,207,543 shares of the company’s stock valued at $177,281,000 after purchasing an additional 500,924 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Protagonist Therapeutics by 83.9% in the third quarter. Wellington Management Group LLP now owns 1,908,446 shares of the company’s stock valued at $126,778,000 after purchasing an additional 870,708 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Protagonist Therapeutics by 1.5% during the second quarter. Geode Capital Management LLC now owns 1,444,230 shares of the company’s stock worth $79,833,000 after purchasing an additional 20,671 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on PTGX shares. Citigroup raised their target price on Protagonist Therapeutics from $98.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Barclays boosted their price target on Protagonist Therapeutics from $88.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Citizens Jmp raised their price objective on shares of Protagonist Therapeutics from $69.00 to $102.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Truist Financial lifted their target price on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the company a “buy” rating in a report on Monday, January 5th. Finally, Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.77.

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.