Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells 65,761 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 65,761 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $149.11, for a total transaction of $9,805,622.71. Following the transaction, the chief executive officer owned 523,478 shares in the company, valued at $78,055,804.58. The trade was a 11.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Price Performance

Shares of PTGX traded up $3.72 during trading hours on Wednesday, hitting $152.01. The stock had a trading volume of 416,397 shares, compared to its average volume of 733,688. The firm has a 50 day simple moving average of $126.51 and a 200-day simple moving average of $106.30. Protagonist Therapeutics, Inc. has a 1-year low of $54.18 and a 1-year high of $152.70. The firm has a market capitalization of $9.78 billion, a P/E ratio of 147.58 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.02. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The company had revenue of $213.47 million for the quarter, compared to analyst estimates of $212.03 million. The firm’s revenue was up 3746.8% compared to the same quarter last year. Equities analysts predict that Protagonist Therapeutics, Inc. will post 3.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of PTGX. Farther Finance Advisors LLC increased its stake in shares of Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 156 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Protagonist Therapeutics by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,393 shares of the company’s stock valued at $1,170,000 after buying an additional 193 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Protagonist Therapeutics by 2.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company’s stock valued at $751,000 after buying an additional 196 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Protagonist Therapeutics by 7.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock worth $291,000 after buying an additional 200 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Protagonist Therapeutics by 7.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock worth $381,000 after buying an additional 208 shares during the period. 98.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PTGX has been the topic of several recent research reports. Wedbush raised their price target on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the company an “outperform” rating in a research report on Monday. Barclays increased their price target on Protagonist Therapeutics from $151.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. The Goldman Sachs Group raised shares of Protagonist Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $186.00 in a research report on Monday. Citigroup upped their target price on Protagonist Therapeutics from $130.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, UBS Group upgraded Protagonist Therapeutics to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $137.86.

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.