Protagonist Therapeutics (NASDAQ:PTGX) CEO Dinesh Ph Patel Sells 65,761 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 65,761 shares of Protagonist Therapeutics stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $149.11, for a total value of $9,805,622.71. Following the transaction, the chief executive officer owned 523,478 shares in the company, valued at $78,055,804.58. This trade represents a 11.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Stock Up 2.5%

Shares of PTGX traded up $3.72 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 price-to-earnings ratio of 147.58 and a beta of 1.78. The firm’s fifty day moving average price is $126.51 and its 200-day moving average price is $106.30. Protagonist Therapeutics, Inc. has a fifty-two week low of $54.18 and a fifty-two week high of $152.70.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating 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 analysts’ expectations of $212.03 million. The company’s revenue for the quarter was up 3746.8% compared to the same quarter last year. As a group, equities analysts predict that Protagonist Therapeutics, Inc. will post 3.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. NEXTBio Capital Management LP acquired a new position in shares of Protagonist Therapeutics in the 4th quarter worth approximately $20,055,000. Jennison Associates LLC acquired a new position in Protagonist Therapeutics in the fourth quarter valued at $28,924,000. Clearbridge Investments LLC bought a new stake in Protagonist Therapeutics during the fourth quarter valued at $42,783,000. Stempoint Capital LP grew its holdings in Protagonist Therapeutics by 22.1% during the 1st quarter. Stempoint Capital LP now owns 72,577 shares of the company’s stock worth $7,650,000 after acquiring an additional 13,147 shares during the period. Finally, Keystone Investors PTE Ltd. acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $2,305,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on PTGX. Citizens Jmp lifted their price target on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Wolfe Research assumed coverage on Protagonist Therapeutics in a report on Thursday, May 21st. They set an “outperform” rating and a $135.00 target price on the stock. Truist Financial raised their target price on shares of Protagonist Therapeutics from $145.00 to $170.00 and gave the company a “buy” rating in a research note on Monday. Zacks Research cut shares of Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Johnson Rice set a $165.00 price objective on Protagonist Therapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock 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.