Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells $78,107.88 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $40.98, for a total value of $78,107.88. Following the transaction, the insider now owns 46,444 shares in the company, valued at approximately $1,903,275.12. The trade was a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Protagonist Therapeutics Price Performance

Shares of PTGX opened at $41.65 on Friday. The company has a 50-day simple moving average of $45.26 and a two-hundred day simple moving average of $39.02. The firm has a market capitalization of $2.48 billion, a PE ratio of 15.66 and a beta of 2.17. Protagonist Therapeutics, Inc. has a one year low of $16.80 and a one year high of $48.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky purchased a new stake in Protagonist Therapeutics in the third quarter worth $909,000. Geode Capital Management LLC boosted its holdings in shares of Protagonist Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company’s stock valued at $61,873,000 after buying an additional 3,528 shares in the last quarter. Barclays PLC grew its position in shares of Protagonist Therapeutics by 223.6% in the 3rd quarter. Barclays PLC now owns 126,995 shares of the company’s stock worth $5,714,000 after buying an additional 87,755 shares during the period. XTX Topco Ltd bought a new position in shares of Protagonist Therapeutics in the 3rd quarter worth about $666,000. Finally, Wellington Management Group LLP purchased a new position in Protagonist Therapeutics during the 3rd quarter valued at about $1,354,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Truist Financial initiated coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. JMP Securities lowered their price target on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on Protagonist Therapeutics from $39.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target 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.