Dinesh Ph Patel Sells 54,641 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 54,641 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $101.00, for a total value of $5,518,741.00. Following the transaction, the chief executive officer owned 524,938 shares of the company’s stock, valued at approximately $53,018,738. This trade represents a 9.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Protagonist Therapeutics Price Performance

Shares of PTGX stock opened at $102.17 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 market capitalization of $6.52 billion, a price-to-earnings ratio of -49.84 and a beta of 2.23. The company’s fifty day moving average price is $88.65 and its 200-day moving average price is $82.04.

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

Analyst Ratings Changes

Several research firms have weighed in on PTGX. HC Wainwright raised their price target on Protagonist Therapeutics from $80.00 to $117.00 and gave the company a “buy” rating in a report on Friday, January 30th. Johnson Rice reiterated a “buy” rating on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. Leerink Partners raised their target price on shares of Protagonist Therapeutics from $107.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, March 19th. TD Cowen upped their price target on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Citizens Jmp lifted their target price on Protagonist Therapeutics from $102.00 to $112.00 and gave the stock a “market outperform” rating in a report on Thursday, February 26th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.31.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in shares of Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after acquiring an additional 156 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in shares of Protagonist Therapeutics in the fourth quarter worth about $27,000. Salomon & Ludwin LLC acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew its position in shares of Protagonist Therapeutics by 138.9% in the third quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $36,000 after purchasing an additional 314 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new stake in Protagonist Therapeutics during the 3rd quarter worth approximately $62,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.