Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Director Sells 8,000 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.00, for a total value of $320,000.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $480,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Protagonist Therapeutics Price Performance

NASDAQ PTGX traded down $1.29 on Friday, hitting $40.28. The stock had a trading volume of 770,101 shares, compared to its average volume of 797,622. The business’s fifty day moving average price is $33.45 and its 200 day moving average price is $29.50. Protagonist Therapeutics, Inc. has a 52-week low of $13.72 and a 52-week high of $42.67. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 17.04 and a beta of 2.13.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Tuesday, May 7th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.75. The firm had revenue of $254.95 million during the quarter, compared to analysts’ expectations of $300.00 million. As a group, sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.28 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, June 14th. BTIG Research lifted their price target on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JMP Securities reissued a “market outperform” rating and set a $45.00 price objective on shares of Protagonist Therapeutics in a report on Monday, June 17th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in shares of Protagonist Therapeutics during the first quarter valued at $35,000. Lazard Asset Management LLC purchased a new stake in shares of Protagonist Therapeutics during the first quarter valued at $69,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Protagonist Therapeutics by 353.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,675 shares of the company’s stock valued at $153,000 after buying an additional 5,202 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Protagonist Therapeutics during the first quarter valued at $202,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at $210,000. 98.63% of the stock is owned by hedge funds and other institutional investors.

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.