Insider Selling: Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells 54,641 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 54,641 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $101.00, for a total value of $5,518,741.00. Following the completion of the transaction, the chief executive officer directly owned 524,938 shares in the company, valued at approximately $53,018,738. This trade represents a 9.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Protagonist Therapeutics Trading Up 3.9%

NASDAQ PTGX traded up $3.92 on Wednesday, reaching $104.31. 812,152 shares of the stock traded hands, compared to its average volume of 937,182. The company has a fifty day moving average price of $88.30 and a 200-day moving average price of $81.90. Protagonist Therapeutics, Inc. has a 12 month low of $39.60 and a 12 month high of $105.69.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Wednesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.16). Protagonist Therapeutics had a negative return on equity of 19.89% and a negative net margin of 282.83%.The firm had revenue of $7.44 million during the quarter, compared to analysts’ expectations of $14.92 million. Analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Protagonist Therapeutics from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Barclays boosted their price target on shares of Protagonist Therapeutics from $113.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Truist Financial upped their price target on shares of Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. The Goldman Sachs Group increased their price objective on shares of Protagonist Therapeutics from $65.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. Finally, Citizens Jmp lifted their price objective on shares of Protagonist Therapeutics from $102.00 to $112.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.31.

Institutional Trading of Protagonist Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in shares of Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 156 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in Protagonist Therapeutics during the 4th quarter valued at about $27,000. Salomon & Ludwin LLC acquired a new position in Protagonist Therapeutics during the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its stake in Protagonist Therapeutics by 138.9% in the third quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $36,000 after buying an additional 314 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in Protagonist Therapeutics in the third quarter valued at about $62,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.