Protagonist Therapeutics (NASDAQ:PTGX) CEO Dinesh Ph Patel Sells 54,174 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 54,174 shares of Protagonist Therapeutics stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $145.87, for a total transaction of $7,902,361.38. Following the sale, the chief executive officer owned 522,968 shares of the company’s stock, valued at approximately $76,285,342.16. This represents a 9.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Stock Up 0.0%

PTGX stock opened at $145.16 on Friday. The business’s fifty day moving average is $142.81 and its 200-day moving average is $116.73. The company has a market cap of $9.39 billion, a P/E ratio of 140.93 and a beta of 1.80. Protagonist Therapeutics, Inc. has a twelve month low of $57.53 and a twelve month high of $160.81.

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

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of PTGX. BlackRock Inc. bought a new stake in Protagonist Therapeutics in the 2nd quarter valued at approximately $1,263,535,000. California State Teachers Retirement System grew its stake in shares of Protagonist Therapeutics by 12,217.3% during the 2nd quarter. California State Teachers Retirement System now owns 7,227,439 shares of the company’s stock worth $885,939,000 after acquiring an additional 7,168,762 shares in the last quarter. State Street Corp lifted its position in shares of Protagonist Therapeutics by 18.5% in the second quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after purchasing an additional 500,924 shares in the last quarter. Wellington Management Group LLP lifted its position in Protagonist Therapeutics by 66.2% during the 4th quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock worth $276,992,000 after buying an additional 1,262,977 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Protagonist Therapeutics by 9.1% in the first quarter. Janus Henderson Group PLC now owns 2,891,527 shares of the company’s stock valued at $304,866,000 after acquiring an additional 241,546 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several recent analyst reports. Wall Street Zen raised shares of Protagonist Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 22nd. Weiss Ratings raised shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. HC Wainwright boosted their price target on shares of Protagonist Therapeutics from $167.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 31st. UBS Group upgraded shares of Protagonist Therapeutics to a “buy” rating in a research report on Monday, August 10th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research note on Monday, August 31st. Sixteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.13.

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.