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 company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the transaction, the chief executive officer now owns 540,260 shares in the company, valued at $20,627,126.80. The trade was a 0.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Protagonist Therapeutics Price Performance

NASDAQ:PTGX opened at $38.75 on Friday. The firm has a market capitalization of $2.31 billion, a P/E ratio of 14.57 and a beta of 2.22. Protagonist Therapeutics, Inc. has a 1-year low of $24.22 and a 1-year high of $48.89. The company’s fifty day moving average price is $38.37 and its 200-day moving average price is $41.85.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data 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 analyst estimates of $56.65 million. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. Equities analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

PTGX has been the topic of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 price target on the stock. Wedbush restated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Institutional Trading of Protagonist Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTGX. FNY Investment Advisers LLC acquired a new stake in Protagonist Therapeutics during the fourth quarter valued at $38,000. Exchange Traded Concepts LLC acquired a new stake in Protagonist Therapeutics during the third quarter valued at $43,000. GF Fund Management CO. LTD. acquired a new stake in Protagonist Therapeutics during the fourth quarter valued at $48,000. CWM LLC grew its position in Protagonist Therapeutics by 910.3% during the third 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, Covestor Ltd grew its position in Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock valued at $63,000 after buying an additional 1,612 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

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.