Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Down 6.2% – What’s Next?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s share price fell 6.2% on Thursday . The company traded as low as $35.03 and last traded at $35.59. 102,731 shares changed hands during trading, a decline of 82% from the average session volume of 561,856 shares. The stock had previously closed at $37.94.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several analyst reports. Wedbush restated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. The Goldman Sachs Group started coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They issued a “neutral” rating and a $47.00 target price for the company. BMO Capital Markets began coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They issued an “outperform” rating and a $62.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, December 10th. Finally, StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.78.

Protagonist Therapeutics Price Performance

The business has a 50-day moving average price of $40.55 and a two-hundred day moving average price of $41.62. The firm has a market cap of $2.19 billion, a PE ratio of 13.84 and a beta of 2.23.

Insider Buying and Selling at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the completion of the transaction, the insider now owns 46,444 shares of the company’s stock, valued at approximately $2,076,046.80. The trade was a 35.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the sale, the chief executive officer now directly owns 435,208 shares in the company, valued at $20,437,367.68. This represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 209,863 shares of company stock worth $9,689,847. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after acquiring an additional 487 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Protagonist Therapeutics in the 4th quarter valued at $38,000. Exchange Traded Concepts LLC purchased a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at $43,000. CWM LLC raised its position in shares of Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after buying an additional 1,147 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Protagonist Therapeutics in the third quarter valued at $69,000. 98.63% of the stock is currently 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.