Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Sells 78,520 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 78,520 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.96, for a total value of $3,687,299.20. Following the sale, the chief executive officer now directly owns 435,208 shares of the company’s stock, valued at $20,437,367.68. This represents a 15.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Protagonist Therapeutics Price Performance

PTGX stock traded up $0.12 during trading on Wednesday, hitting $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 twelve month low of $17.13 and a twelve month high of $48.89. The stock has a market capitalization of $2.68 billion, a P/E ratio of 16.85 and a beta of 2.17. The company’s 50-day moving average price is $45.24 and its two-hundred day moving average price is $39.58.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PTGX shares. Wedbush reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Truist Financial started coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Finally, TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Buy” and an average price target of $53.57.

Institutional Trading of Protagonist Therapeutics

Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in Protagonist Therapeutics in the first quarter valued at approximately $35,000. Vanguard Group Inc. raised its position in Protagonist Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after purchasing an additional 39,055 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Protagonist Therapeutics by 74.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after acquiring an additional 3,870 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Protagonist Therapeutics in the first quarter worth $69,000. Finally, Silvercrest Asset Management Group LLC grew its stake in shares of Protagonist Therapeutics by 4.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 188,743 shares of the company’s stock worth $5,460,000 after purchasing an additional 8,247 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.