Dinesh V. Ph D. Patel Sells 35,000 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $35.19, for a total transaction of $1,231,650.00. Following the completion of the sale, the chief executive officer now owns 515,415 shares of the company’s stock, valued at approximately $18,137,453.85. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Protagonist Therapeutics Trading Up 2.4 %

Shares of NASDAQ:PTGX traded up $0.78 during trading on Tuesday, hitting $33.95. 998,445 shares of the company’s stock were exchanged, compared to its average volume of 665,873. Protagonist Therapeutics, Inc. has a 1-year low of $13.72 and a 1-year high of $35.55. The firm has a 50-day moving average price of $28.42 and a two-hundred day moving average price of $26.37. The firm has a market cap of $1.99 billion, a P/E ratio of 13.59 and a beta of 2.12.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $3.26 EPS for the quarter, topping the consensus estimate of $2.51 by $0.75. The business had revenue of $254.95 million for the quarter, compared to analyst estimates of $300.00 million. As a group, research analysts predict that Protagonist Therapeutics, Inc. will post 1.67 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its stake in Protagonist Therapeutics by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 34,895 shares of the company’s stock worth $1,010,000 after acquiring an additional 849 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Protagonist Therapeutics by 5.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 16,303 shares of the company’s stock worth $272,000 after acquiring an additional 910 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Protagonist Therapeutics by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 14,971 shares of the company’s stock worth $250,000 after acquiring an additional 1,068 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Protagonist Therapeutics by 11.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,338 shares of the company’s stock worth $237,000 after acquiring an additional 1,093 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Protagonist Therapeutics by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 14,345 shares of the company’s stock worth $415,000 after acquiring an additional 1,206 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

PTGX has been the subject of several research reports. JMP Securities raised their price objective on shares of Protagonist Therapeutics from $42.00 to $45.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. StockNews.com upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, HC Wainwright restated a “buy” rating and issued a $38.00 price objective on shares of Protagonist Therapeutics in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

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.