Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $5,085,176.28 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 34,239 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $148.52, for a total transaction of $5,085,176.28. Following the transaction, the chief executive officer owned 523,478 shares of the company’s stock, valued at approximately $77,746,952.56. The trade was a 6.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Trading Up 2.5%

Shares of PTGX stock traded up $3.72 during trading hours on Wednesday, hitting $152.01. The company’s stock had a trading volume of 416,397 shares, compared to its average volume of 733,688. The business has a fifty day moving average of $126.51 and a 200-day moving average of $106.30. Protagonist Therapeutics, Inc. has a twelve month low of $54.18 and a twelve month high of $152.70. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 147.58 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.02. The firm 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%.The business’s revenue was up 3746.8% on a year-over-year basis. On average, equities analysts expect that Protagonist Therapeutics, Inc. will post 3.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of large investors have recently bought and sold shares of PTGX. BlackRock Inc. acquired a new position in shares of Protagonist Therapeutics in the 2nd quarter valued at $1,263,535,000. Vanguard Group Inc. increased its holdings in shares of Protagonist Therapeutics by 27.2% during the 4th quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock worth $472,832,000 after buying an additional 1,156,461 shares during the last quarter. State Street Corp raised its position in shares of Protagonist Therapeutics by 18.5% in the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock worth $177,281,000 after buying an additional 500,924 shares during the period. Wellington Management Group LLP raised its position in shares of Protagonist Therapeutics by 66.2% in 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 during the period. Finally, Janus Henderson Group PLC boosted its holdings in 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. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Johnson Rice set a $165.00 price objective on Protagonist Therapeutics in a research report on Friday, July 17th. Wolfe Research initiated coverage on shares of Protagonist Therapeutics in a research note on Thursday, May 21st. They set an “outperform” rating and a $135.00 price target on the stock. Barclays upped their price objective on shares of Protagonist Therapeutics from $151.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Citigroup raised their target price on shares of Protagonist Therapeutics from $130.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Protagonist Therapeutics Company Profile

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.