Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $7,509,000.00 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 75,000 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total transaction of $7,509,000.00. Following the sale, the chief executive officer directly owned 523,478 shares in the company, valued at approximately $52,410,617.36. The trade was a 12.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Protagonist Therapeutics Stock Performance

PTGX stock opened at $105.55 on Friday. The firm has a market cap of $6.79 billion, a PE ratio of -58.31 and a beta of 1.89. The firm’s 50 day moving average price is $100.58 and its 200-day moving average price is $90.39. Protagonist Therapeutics, Inc. has a one year low of $43.47 and a one year high of $107.84.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.55. The company had revenue of $56.37 million for the quarter, compared to analyst estimates of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. Equities research analysts predict that Protagonist Therapeutics, Inc. will post 2.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $121.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. Weiss Ratings cut Protagonist Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. Wall Street Zen raised Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Citigroup reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Finally, Citizens Jmp raised their price objective on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.69.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after buying an additional 156 shares during the last quarter. Greenline Wealth Management LLC purchased a new position in Protagonist Therapeutics during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC raised its position in Protagonist Therapeutics by 138.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $36,000 after buying an additional 314 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in Protagonist Therapeutics during the 3rd quarter worth $62,000. Finally, Osaic Holdings Inc. raised its position in Protagonist Therapeutics by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock worth $65,000 after buying an additional 525 shares during the last quarter. 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.