Protagonist Therapeutics (NASDAQ:PTGX) CEO Dinesh Ph Patel Sells 34,239 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 34,239 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $148.52, for a total value of $5,085,176.28. Following the sale, the chief executive officer owned 523,478 shares of the company’s stock, valued at $77,746,952.56. The trade was a 6.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Price Performance

NASDAQ PTGX traded up $3.72 during mid-day trading on Wednesday, hitting $152.01. The company’s stock had a trading volume of 416,397 shares, compared to its average volume of 733,688. The firm has a market capitalization of $9.78 billion, a P/E ratio of 147.58 and a beta of 1.78. Protagonist Therapeutics, Inc. has a 52-week low of $54.18 and a 52-week high of $152.70. The stock’s fifty day simple moving average is $126.51 and its two-hundred day simple moving average is $106.30.

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, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $212.03 million. The firm’s quarterly revenue was up 3746.8% on a year-over-year basis. On average, equities analysts forecast that Protagonist Therapeutics, Inc. will post 3.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its stake 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 valued at $26,000 after purchasing an additional 156 shares in the last quarter. Greenline Wealth Management LLC acquired a new position in Protagonist Therapeutics in the fourth quarter worth about $27,000. Keating Financial Advisory Services Inc. acquired a new position in Protagonist Therapeutics in the second quarter worth about $30,000. Allworth Financial LP bought a new stake in Protagonist Therapeutics in the second quarter valued at about $31,000. Finally, Quantbot Technologies LP bought a new stake in Protagonist Therapeutics in the second quarter valued at about $42,000. Institutional investors own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PTGX. Johnson Rice set a $165.00 target price on shares of Protagonist Therapeutics in a research note on Friday, July 17th. Citigroup lifted their price target on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. UBS Group upgraded shares of Protagonist Therapeutics to a “buy” rating in a report on Monday. Wall Street Zen cut shares of Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group upgraded Protagonist Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $186.00 in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.86.

Protagonist Therapeutics Company Profile

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.