Protagonist Therapeutics (NASDAQ:PTGX) Director William Waddill Sells 9,000 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Director William Waddill sold 9,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $107.68, for a total transaction of $969,120.00. Following the completion of the transaction, the director owned 7,825 shares of the company’s stock, valued at approximately $842,596. This represents a 53.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Stock Performance

Shares of PTGX traded up $4.02 during trading hours on Thursday, hitting $109.79. The stock had a trading volume of 564,069 shares, compared to its average volume of 544,673. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of -60.66 and a beta of 1.85. The firm has a 50-day moving average price of $101.59 and a 200 day moving average price of $93.11. Protagonist Therapeutics, Inc. has a fifty-two week low of $49.38 and a fifty-two week high of $111.45.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.55. The business had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. As a group, analysts predict that Protagonist Therapeutics, Inc. will post 2.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of PTGX. Royal Bank of Canada increased its position in Protagonist Therapeutics by 30.6% during the first quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after purchasing an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after purchasing an additional 348 shares during the last quarter. Millennium Management LLC increased its position in Protagonist Therapeutics by 283.6% during the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock worth $6,493,000 after purchasing an additional 99,269 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Protagonist Therapeutics during the second quarter worth about $987,000. Finally, Guggenheim Capital LLC increased its position in Protagonist Therapeutics by 1.6% during the second quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after purchasing an additional 303 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PTGX. Wall Street Zen raised Protagonist Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Citigroup reissued an “outperform” rating on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on Protagonist Therapeutics from $95.00 to $106.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Citizens Jmp increased their target price on Protagonist Therapeutics from $120.00 to $137.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.21.

About Protagonist Therapeutics

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.