Suneel Gupta Sells 103,437 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Suneel Gupta sold 103,437 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the sale, the insider now owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. The trade was a 28.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Protagonist Therapeutics Stock Down 2.6 %

Shares of NASDAQ PTGX opened at $43.80 on Friday. Protagonist Therapeutics, Inc. has a twelve month low of $17.70 and a twelve month high of $48.89. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 16.47 and a beta of 2.17. The company’s fifty day moving average is $45.15 and its 200-day moving average is $39.76.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTGX. Russell Investments Group Ltd. acquired a new stake in shares of Protagonist Therapeutics during the first quarter worth about $35,000. Vanguard Group Inc. increased its stake in Protagonist Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after purchasing an additional 39,055 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Protagonist Therapeutics by 74.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after buying an additional 3,870 shares during the period. Lazard Asset Management LLC bought a new position in Protagonist Therapeutics in the first quarter valued at approximately $69,000. Finally, Silvercrest Asset Management Group LLC boosted its holdings in shares of Protagonist Therapeutics by 4.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 188,743 shares of the company’s stock valued at $5,460,000 after buying an additional 8,247 shares during the period. 98.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PTGX shares. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 target price for the company. JMP Securities reduced their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $53.57.

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.