Protagonist Therapeutics (NASDAQ:PTGX) Director William Waddill Sells 9,000 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Director William Waddill sold 9,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the sale, the director owned 7,825 shares of the company’s stock, valued at $922,880.50. This trade represents a 53.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX opened at $122.63 on Friday. Protagonist Therapeutics, Inc. has a fifty-two week low of $49.38 and a fifty-two week high of $126.25. The stock has a market capitalization of $7.89 billion, a PE ratio of -67.75 and a beta of 1.85. The business’s 50-day simple moving average is $104.06 and its 200-day simple moving average is $94.99.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. On average, research analysts expect that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current year.

Hedge Funds Weigh In On Protagonist Therapeutics

Large investors have recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new stake in shares of Protagonist Therapeutics in the first quarter valued at approximately $518,000. Empowered Funds LLC acquired a new position in Protagonist Therapeutics during the first quarter worth $245,000. Axiom Investment Management LLC bought a new position in Protagonist Therapeutics in the first quarter valued at $211,000. Segall Bryant & Hamill LLC grew its position in Protagonist Therapeutics by 64.8% in the first quarter. Segall Bryant & Hamill LLC now owns 212,714 shares of the company’s stock valued at $22,420,000 after purchasing an additional 83,654 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Protagonist Therapeutics by 49.3% in the 1st quarter. Bank of America Corp DE now owns 1,295,434 shares of the company’s stock valued at $136,539,000 after buying an additional 427,854 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PTGX. Jefferies Financial Group reissued a “buy” rating and set a $121.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, March 18th. Wedbush boosted their price objective on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Johnson Rice reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. Citizens Jmp increased their target price on Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.21.

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.