Protagonist Therapeutics (NASDAQ:PTGX) CFO Sells $8,312,419.62 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali sold 58,629 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $141.78, for a total transaction of $8,312,419.62. Following the sale, the chief financial officer owned 59,003 shares in the company, valued at $8,365,445.34. The trade was a 49.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock traded up $0.87 during trading hours on Friday, reaching $140.06. The company had a trading volume of 646,500 shares, compared to its average volume of 713,166. Protagonist Therapeutics, Inc. has a one year low of $62.24 and a one year high of $160.81. The business has a fifty day simple moving average of $145.09 and a 200 day simple moving average of $122.07. The firm has a market cap of $9.06 billion, a PE ratio of 135.98 and a beta of 1.53.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating 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. Protagonist Therapeutics’s revenue was up 3746.8% on a year-over-year basis. On average, research analysts forecast that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current year.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several recent analyst reports. UBS Group raised shares of Protagonist Therapeutics to a “buy” rating in a research note on Monday, August 10th. Johnson Rice set a $165.00 price target on shares of Protagonist Therapeutics in a report on Friday, July 17th. BMO Capital Markets boosted their price target 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. HC Wainwright upped their price target on shares of Protagonist Therapeutics from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Finally, The Goldman Sachs Group raised shares of Protagonist Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $186.00 in a report on Monday, August 10th. Sixteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.13.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in PTGX. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Protagonist Therapeutics by 7.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock valued at $291,000 after buying an additional 200 shares during the period. GAMMA Investing LLC grew its holdings in shares of Protagonist Therapeutics by 7.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock worth $381,000 after acquiring an additional 208 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Protagonist Therapeutics by 8.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,959 shares of the company’s stock worth $258,000 after acquiring an additional 221 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new position in shares of Protagonist Therapeutics in the 2nd quarter worth approximately $30,000. Finally, Allworth Financial LP purchased a new position in shares of Protagonist Therapeutics in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ:PTGX) is a clinical-stage biopharmaceutical company focused on developing peptide-based medicines for chronic immune-mediated and hematologic diseases. The company uses its proprietary technology platform to design peptides intended to selectively interact with disease-relevant biological targets.

Protagonist’s pipeline includes icotrokinra, formerly known as JNJ-2113, an investigational oral peptide that selectively targets the interleukin-23 receptor.