Dinesh Ph Patel Sells 63,548 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 63,548 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $146.18, for a total value of $9,289,446.64. Following the completion of the transaction, the chief executive officer owned 522,968 shares of the company’s stock, valued at approximately $76,447,462.24. This represents a 10.83% decrease in their position. The sale 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 Trading Up 2.1%

NASDAQ PTGX opened at $148.18 on Friday. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 143.87 and a beta of 1.80. The stock has a 50-day moving average of $143.14 and a 200 day moving average of $116.95. Protagonist Therapeutics, Inc. has a twelve month low of $57.90 and a twelve month high of $160.81.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.27 by $0.02. The company had revenue of $213.47 million for the quarter, compared to analyst estimates of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.Protagonist Therapeutics’s revenue was up 3746.8% on a year-over-year basis. Equities analysts predict that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. UBS Group raised shares of Protagonist Therapeutics to a “buy” rating in a report on Monday, August 10th. Wedbush lifted their target price on shares of Protagonist Therapeutics from $118.00 to $173.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Johnson Rice set a $165.00 target price on shares of Protagonist Therapeutics in a research note on Friday, July 17th. BMO Capital Markets upped their price target on shares of Protagonist Therapeutics from $178.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Sixteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Protagonist Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $147.13.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its stake in Protagonist Therapeutics by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,393 shares of the company’s stock worth $1,170,000 after purchasing an additional 193 shares during the last quarter. Maryland State Retirement & Pension System raised its position in shares of Protagonist Therapeutics by 2.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 8,603 shares of the company’s stock valued at $751,000 after buying an additional 196 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Protagonist Therapeutics by 7.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,760 shares of the company’s stock worth $291,000 after buying an additional 200 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Protagonist Therapeutics by 7.2% in the second quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock worth $381,000 after buying an additional 208 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Protagonist Therapeutics by 8.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,959 shares of the company’s stock worth $258,000 after buying an additional 221 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist’s pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.