Protagonist Therapeutics (NASDAQ:PTGX) Director Lewis Williams Sells 18,000 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Director Lewis Williams sold 18,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $82.42, for a total transaction of $1,483,560.00. Following the sale, the director directly owned 7,825 shares of the company’s stock, valued at $644,936.50. This represents a 69.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Protagonist Therapeutics Stock Up 0.6%

Shares of Protagonist Therapeutics stock traded up $0.53 during trading on Wednesday, hitting $82.99. 407,873 shares of the stock traded hands, compared to its average volume of 768,887. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 133.86 and a beta of 2.26. The firm’s fifty day moving average is $84.80 and its 200-day moving average is $75.37. Protagonist Therapeutics, Inc. has a 52 week low of $33.70 and a 52 week high of $96.54.

Wall Street Analysts Forecast Growth

PTGX has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on Protagonist Therapeutics from $95.00 to $118.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. BTIG Research reissued a “buy” rating and set a $82.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, October 28th. Wedbush raised their price target on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. upped their price objective on shares of Protagonist Therapeutics from $68.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Weiss Ratings lowered shares of Protagonist Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.38.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of PTGX. Farther Finance Advisors LLC boosted its position in Protagonist Therapeutics by 110.6% during the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 156 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Protagonist Therapeutics in the 2nd quarter valued at approximately $27,000. Greenline Wealth Management LLC bought a new stake in shares of Protagonist Therapeutics during the fourth quarter valued at approximately $27,000. Bessemer Group Inc. grew its stake in Protagonist Therapeutics by 171.0% in the second quarter. Bessemer Group Inc. now owns 504 shares of the company’s stock worth $28,000 after purchasing an additional 318 shares during the period. Finally, Salomon & Ludwin LLC purchased a new stake in Protagonist Therapeutics in the third quarter worth $29,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.