Protagonist Therapeutics (NASDAQ:PTGX) CFO Asif Ali Sells 8,588 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali sold 8,588 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $82.48, for a total value of $708,338.24. Following the completion of the transaction, the chief financial officer owned 78,077 shares of the company’s stock, valued at $6,439,790.96. The trade was a 9.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Protagonist Therapeutics Stock Performance

PTGX 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 firm has a market capitalization of $5.24 billion, a PE ratio of 135.31 and a beta of 2.26. The business’s 50-day simple moving average is $86.56 and its 200 day simple moving average is $71.38.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.03). The company had revenue of $4.71 million during the quarter, compared to the consensus estimate of $5.41 million. Protagonist Therapeutics had a net margin of 21.94% and a return on equity of 6.86%. On average, research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

PTGX has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, December 24th. BMO Capital Markets reissued an “outperform” rating on shares of Protagonist Therapeutics in a research report on Monday, October 13th. Johnson Rice set a $112.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, October 13th. JPMorgan Chase & Co. upped their target price on shares of Protagonist Therapeutics from $68.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, BTIG Research reiterated a “buy” rating and issued a $82.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.77.

Hedge Funds Weigh In On Protagonist Therapeutics

Several large investors have recently modified their holdings of PTGX. Royal Bank of Canada boosted its holdings in shares of Protagonist Therapeutics by 30.6% during the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after buying an additional 2,334 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after acquiring an additional 348 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Protagonist Therapeutics by 283.6% during the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock worth $6,493,000 after acquiring an additional 99,269 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Protagonist Therapeutics by 104.7% in the second quarter. Assenagon Asset Management S.A. now owns 91,875 shares of the company’s stock valued at $5,078,000 after purchasing an additional 47,003 shares during the last quarter. Finally, Palumbo Wealth Management LLC bought a new position in shares of Protagonist Therapeutics during the second quarter worth approximately $416,000. 98.63% of the stock is owned by institutional investors.

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.