Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali Sells 24,903 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali sold 24,903 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total transaction of $1,462,553.19. Following the sale, the chief financial officer now directly owns 62,821 shares of the company’s stock, valued at approximately $3,689,477.33. This trade represents a 28.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Protagonist Therapeutics Trading Down 0.2 %

Shares of NASDAQ:PTGX opened at $54.78 on Friday. The stock’s fifty day simple moving average is $39.63 and its two-hundred day simple moving average is $42.24. Protagonist Therapeutics, Inc. has a 1-year low of $24.22 and a 1-year high of $60.60. The stock has a market cap of $3.36 billion, a PE ratio of 20.59 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $170.64 million for the quarter, compared to analysts’ expectations of $56.65 million. On average, sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Protagonist Therapeutics

Large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp increased its position in shares of Protagonist Therapeutics by 174.6% during the 4th quarter. Mackenzie Financial Corp now owns 21,349 shares of the company’s stock valued at $824,000 after purchasing an additional 13,575 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at $13,162,000. Cache Advisors LLC purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at $392,000. GF Fund Management CO. LTD. purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter valued at $48,000. Finally, Woodline Partners LP increased its position in shares of Protagonist Therapeutics by 24.8% during the 4th quarter. Woodline Partners LP now owns 582,327 shares of the company’s stock valued at $22,478,000 after purchasing an additional 115,809 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PTGX has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday. BTIG Research set a $73.00 target price on Protagonist Therapeutics in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. StockNews.com cut Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Wedbush reiterated an “outperform” rating on shares of Protagonist Therapeutics in a report on Tuesday. Two research 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’s stock. Based on data from MarketBeat, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $61.22.

About Protagonist Therapeutics

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.