Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Passes Below 50-Day Moving Average of $28.56

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $28.56 and traded as low as $25.35. Protagonist Therapeutics shares last traded at $25.57, with a volume of 517,565 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PTGX shares. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of Protagonist Therapeutics in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price objective on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Finally, StockNews.com upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Protagonist Therapeutics Stock Performance

The company has a market cap of $1.49 billion, a price-to-earnings ratio of -17.16 and a beta of 2.01. The stock’s fifty day moving average is $28.56 and its two-hundred day moving average is $22.83.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, February 27th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.39. The business had revenue of $60.00 million during the quarter, compared to analyst estimates of $60.00 million. On average, equities research analysts expect that Protagonist Therapeutics, Inc. will post 1.18 EPS for the current year.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 30,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $31.62, for a total value of $948,600.00. Following the completion of the sale, the chief executive officer now owns 574,590 shares in the company, valued at approximately $18,168,535.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Protagonist Therapeutics news, CEO Dinesh V. Ph D. Patel sold 25,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $28.31, for a total value of $707,750.00. Following the completion of the sale, the chief executive officer now owns 549,590 shares in the company, valued at approximately $15,558,892.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Dinesh V. Ph D. Patel sold 30,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $31.62, for a total transaction of $948,600.00. Following the completion of the sale, the chief executive officer now owns 574,590 shares of the company’s stock, valued at approximately $18,168,535.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,223 shares of company stock worth $2,522,342. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTGX. State Street Corp increased its stake in shares of Protagonist Therapeutics by 108.1% during the 2nd quarter. State Street Corp now owns 6,776,269 shares of the company’s stock worth $53,600,000 after purchasing an additional 3,519,461 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Protagonist Therapeutics by 135.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,613,453 shares of the company’s stock worth $59,926,000 after purchasing an additional 1,505,313 shares during the last quarter. Braidwell LP purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $18,501,000. Perceptive Advisors LLC purchased a new stake in shares of Protagonist Therapeutics during the 1st quarter worth approximately $22,198,000. Finally, Kynam Capital Management LP increased its stake in shares of Protagonist Therapeutics by 86.5% during the 3rd quarter. Kynam Capital Management LP now owns 1,818,657 shares of the company’s stock worth $30,335,000 after purchasing an additional 843,359 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.