Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells 26,000 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Arturo Md Molina sold 26,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the completion of the sale, the insider now owns 46,444 shares of the company’s stock, valued at approximately $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, November 15th, Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock. The shares were sold at an average price of $40.98, for a total value of $78,107.88.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX traded up $0.12 during trading hours on Wednesday, reaching $44.95. The stock had a trading volume of 569,522 shares, compared to its average volume of 750,584. Protagonist Therapeutics, Inc. has a 12-month low of $17.13 and a 12-month high of $48.89. The stock has a 50 day simple moving average of $45.24 and a 200 day simple moving average of $39.58. The stock has a market cap of $2.68 billion, a P/E ratio of 16.85 and a beta of 2.17.

Analyst Ratings Changes

Several research analysts have weighed in on PTGX shares. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Truist Financial assumed coverage on Protagonist Therapeutics in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $53.57.

Institutional Investors Weigh In On Protagonist Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Protagonist Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after buying an additional 379 shares during the period. GAMMA Investing LLC lifted its stake in Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after purchasing an additional 487 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Protagonist Therapeutics in the third quarter worth about $43,000. CWM LLC increased its holdings in shares of Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after buying an additional 1,147 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics during the 1st quarter valued at approximately $35,000. Institutional investors own 98.63% of the company’s stock.

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.