Insider Selling: Protagonist Therapeutics (NASDAQ:PTGX) Insider Sells 13,151 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Arturo Md Molina sold 13,151 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $82.42, for a total transaction of $1,083,905.42. Following the completion of the transaction, the insider owned 84,115 shares of the company’s stock, valued at approximately $6,932,758.30. This trade represents a 13.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Arturo Md Molina also recently made the following trade(s):

• On Tuesday, January 27th, Arturo Md Molina sold 5,000 shares of Protagonist Therapeutics stock. The shares were sold at an average price of $82.00, for a total value of $410,000.00.
• On Tuesday, January 20th, Arturo Md Molina sold 9,514 shares of Protagonist Therapeutics stock. The stock was sold at an average price of $82.48, for a total value of $784,714.72.

Protagonist Therapeutics Trading Up 0.9%

PTGX traded up $0.78 during trading on Tuesday, hitting $83.08. The company’s stock had a trading volume of 507,797 shares, compared to its average volume of 747,674. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 134.00 and a beta of 2.26. Protagonist Therapeutics, Inc. has a twelve month low of $33.70 and a twelve month high of $96.54. The business’s fifty day simple moving average is $86.49 and its 200 day simple moving average is $72.41.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its earnings results on Thursday, November 6th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.03). Protagonist Therapeutics had a return on equity of 6.86% and a net margin of 21.94%.The business had revenue of $4.71 million for the quarter, compared to analyst estimates of $5.41 million. As a group, equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Evergreen Capital Management LLC acquired a new stake in Protagonist Therapeutics during the fourth quarter worth $246,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Protagonist Therapeutics by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,038 shares of the company’s stock worth $265,000 after purchasing an additional 633 shares during the period. Farther Finance Advisors LLC increased its position in shares of Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 156 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Protagonist Therapeutics by 29.5% in the 4th quarter. State of Alaska Department of Revenue now owns 38,099 shares of the company’s stock valued at $3,327,000 after buying an additional 8,674 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Protagonist Therapeutics in the fourth quarter valued at about $224,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of Protagonist Therapeutics from $98.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Truist Financial boosted their price objective on Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. lifted their price target on Protagonist Therapeutics from $68.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Wednesday, October 8th. Finally, Johnson Rice set a $112.00 target price on shares of Protagonist Therapeutics in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Protagonist Therapeutics has an average rating of “Moderate Buy” and an average target price of $86.77.

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.