Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Down 5.4% – Time to Sell?

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) were down 5.4% on Tuesday . The stock traded as low as $44.01 and last traded at $44.25. Approximately 415,671 shares were traded during trading, a decline of 43% from the average daily volume of 733,520 shares. The stock had previously closed at $46.76.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PTGX shares. JMP Securities dropped their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. HC Wainwright increased their target price on Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, September 12th. BTIG Research increased their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Wedbush restated an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a report on Monday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $53.57.

Protagonist Therapeutics Trading Up 0.0 %

The company has a market cap of $2.80 billion, a PE ratio of 18.17 and a beta of 2.17. The stock has a 50 day moving average price of $45.47 and a 200 day moving average price of $37.88.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $40.00 million. Equities analysts expect that Protagonist Therapeutics, Inc. will post 2.46 EPS for the current fiscal year.

Insider Activity

In other news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at $540,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at $540,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the transaction, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Protagonist Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after purchasing an additional 39,055 shares in the last quarter. Seven Eight Capital LP increased its holdings in shares of Protagonist Therapeutics by 426.9% in the 2nd quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock worth $1,275,000 after purchasing an additional 29,810 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Protagonist Therapeutics by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock worth $7,079,000 after purchasing an additional 17,065 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Protagonist Therapeutics in the 2nd quarter worth $2,112,000. Finally, Perceptive Advisors LLC increased its holdings in shares of Protagonist Therapeutics by 27.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after purchasing an additional 274,412 shares in the last quarter. 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.