Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Sells $204,606.62 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total value of $204,606.62. Following the completion of the transaction, the chief executive officer now owns 540,260 shares of the company’s stock, valued at $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Protagonist Therapeutics Stock Down 0.1 %

Protagonist Therapeutics stock traded down $0.04 during trading hours on Thursday, reaching $38.49. 618,655 shares of the company’s stock were exchanged, compared to its average volume of 552,820. The firm’s 50 day simple moving average is $38.45 and its 200 day simple moving average is $41.85. Protagonist Therapeutics, Inc. has a twelve month low of $24.22 and a twelve month high of $48.89. The firm has a market capitalization of $2.29 billion, a PE ratio of 14.47 and a beta of 2.22.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PTGX. JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. BMO Capital Markets assumed coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Finally, The Goldman Sachs Group assumed coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set a “neutral” rating and a $47.00 target price for the company. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.00.

Institutional Trading of Protagonist Therapeutics

Large investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new stake in Protagonist Therapeutics during the 3rd quarter worth about $43,000. FNY Investment Advisers LLC acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $38,000. GF Fund Management CO. LTD. acquired a new stake in Protagonist Therapeutics during the 4th quarter worth about $48,000. CWM LLC grew its stake in shares of Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after buying an additional 1,147 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at about $69,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

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.