Protagonist Therapeutics (NASDAQ:PTGX) CEO Dinesh Ph Patel Sells 7,278 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 7,278 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $144.10, for a total value of $1,048,759.80. Following the sale, the chief executive officer owned 522,968 shares of the company’s stock, valued at approximately $75,359,688.80. This represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Stock Up 0.0%

NASDAQ PTGX opened at $145.16 on Friday. The company has a 50-day moving average price of $142.81 and a 200-day moving average price of $116.73. Protagonist Therapeutics, Inc. has a 52 week low of $57.53 and a 52 week high of $160.81. The firm has a market capitalization of $9.39 billion, a P/E ratio of 140.93 and a beta of 1.80.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The company had revenue of $213.47 million for the quarter, compared to the consensus estimate of $212.03 million. The company’s revenue was up 3746.8% on a year-over-year basis. As a group, equities research analysts anticipate that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Johnson & Johnson bought a new stake in Protagonist Therapeutics in the 2nd quarter worth approximately $300,220,852. NEXTBio Capital Management LP bought a new position in shares of Protagonist Therapeutics during the 4th quarter valued at approximately $20,055,000. Deutsche Bank AG bought a new position in shares of Protagonist Therapeutics during the 2nd quarter valued at approximately $17,387,000. Clearbridge Investments LLC purchased a new position in shares of Protagonist Therapeutics in the fourth quarter valued at $42,783,000. Finally, Stempoint Capital LP grew its holdings in shares of Protagonist Therapeutics by 22.1% in the first quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock valued at $7,650,000 after purchasing an additional 13,147 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PTGX shares. BMO Capital Markets boosted their price objective on shares of Protagonist Therapeutics from $178.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, September 1st. TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, July 1st. UBS Group upgraded Protagonist Therapeutics to a “buy” rating in a research report on Monday, August 10th. Truist Financial boosted their price target on Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Barclays upped their price target on Protagonist Therapeutics from $153.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Sixteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $147.13.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist’s pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.