Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells $1,700,850.36 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Arturo Md Molina sold 30,514 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the sale, the insider now directly owns 83,892 shares in the company, valued at $4,676,140.08. This represents a 26.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Protagonist Therapeutics Trading Down 0.2 %

Shares of PTGX stock opened at $54.78 on Monday. Protagonist Therapeutics, Inc. has a 1-year low of $24.22 and a 1-year high of $60.60. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 20.59 and a beta of 2.34. The stock’s fifty day simple moving average is $39.63 and its 200-day simple moving average is $42.23.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. On average, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PTGX. FNY Investment Advisers LLC purchased a new position in Protagonist Therapeutics in the fourth quarter valued at about $38,000. GF Fund Management CO. LTD. purchased a new position in Protagonist Therapeutics in the fourth quarter valued at about $48,000. Covestor Ltd grew its stake in Protagonist Therapeutics by 5,200.0% in the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock valued at $63,000 after purchasing an additional 1,612 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Protagonist Therapeutics in the third quarter valued at about $69,000. Finally, KBC Group NV grew its stake in Protagonist Therapeutics by 54.4% in the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after purchasing an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Truist Financial boosted their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. boosted their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Wedbush reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research report on Tuesday, March 11th. Finally, The Goldman Sachs Group cut their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $61.22.

Protagonist Therapeutics Company Profile

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.