Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Sells $1,462,553.19 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali sold 24,903 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total value of $1,462,553.19. Following the sale, the chief financial officer now owns 62,821 shares of the company’s stock, valued at approximately $3,689,477.33. This represents a 28.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Protagonist Therapeutics Stock Performance

NASDAQ PTGX opened at $54.78 on Monday. The firm’s fifty day moving average price is $39.63 and its two-hundred day moving average price is $42.23. The stock has a market cap of $3.36 billion, a PE ratio of 20.59 and a beta of 2.34. Protagonist Therapeutics, Inc. has a fifty-two week low of $24.22 and a fifty-two week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $2.07. The firm had revenue of $170.64 million for the quarter, compared to analysts’ expectations of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. As a group, sell-side analysts predict that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Trading of Protagonist Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth $38,000. GF Fund Management CO. LTD. bought a new stake in shares of Protagonist Therapeutics in the fourth quarter worth $48,000. Covestor Ltd grew its stake in shares of Protagonist Therapeutics by 5,200.0% in the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after purchasing an additional 1,612 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Protagonist Therapeutics in the third quarter worth $69,000. Finally, KBC Group NV grew its stake in shares of Protagonist Therapeutics by 54.4% in the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after purchasing an additional 737 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PTGX. BMO Capital Markets lifted their price target on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. BTIG Research set a $73.00 price target on shares of Protagonist Therapeutics in a research report on Monday, March 3rd. Truist Financial lifted their price target on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. The Goldman Sachs Group dropped their price target on shares of Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Finally, StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.22.

Protagonist Therapeutics Company Profile

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.