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

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 34,438 shares of the stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $82.48, for a total transaction of $2,840,446.24. Following the completion of the transaction, the chief executive officer owned 580,505 shares of the company’s stock, valued at $47,880,052.40. This represents a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Protagonist Therapeutics Trading Up 0.6%

Protagonist Therapeutics stock opened at $83.89 on Thursday. Protagonist Therapeutics, Inc. has a 52 week low of $33.70 and a 52 week high of $96.54. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 135.31 and a beta of 2.26. The company’s 50-day moving average price is $86.56 and its two-hundred day moving average price is $71.38.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data 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 net margin of 21.94% and a return on equity of 6.86%. The company had revenue of $4.71 million during the quarter, compared to the consensus estimate of $5.41 million. Research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PTGX. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a report on Wednesday, October 8th. Wedbush raised their price objective on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. lifted their price objective 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. Citizens Jmp increased their target price on shares of Protagonist Therapeutics from $69.00 to $102.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Finally, Johnson Rice set a $112.00 price target on shares of Protagonist Therapeutics in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.77.

Institutional Inflows and Outflows

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