Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Up 8.9% – Time to Buy?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s stock price rose 8.9% on Wednesday . The stock traded as high as $39.98 and last traded at $39.95. Approximately 81,794 shares traded hands during trading, a decline of 85% from the average daily volume of 544,883 shares. The stock had previously closed at $36.67.

Analyst Ratings Changes

PTGX has been the subject of several research reports. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, December 10th. BMO Capital Markets started coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set an “outperform” rating and a $62.00 price target for the company. The Goldman Sachs Group started coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 price target for the company. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.78.

Protagonist Therapeutics Stock Down 3.7 %

The stock has a fifty day simple moving average of $40.74 and a 200-day simple moving average of $41.61. The stock has a market cap of $2.18 billion, a P/E ratio of 13.74 and a beta of 2.23.

Insider Buying and Selling at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 1,906 shares of the company’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 transaction of $78,107.88. Following the completion of the transaction, the insider now owns 46,444 shares of the company’s stock, valued at $1,903,275.12. This represents a 3.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Suneel Gupta sold 103,437 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the sale, the insider now directly owns 256,174 shares in the company, valued at approximately $11,794,250.96. This represents a 28.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,863 shares of company stock valued at $9,689,847. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in shares of Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after acquiring an additional 487 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Protagonist Therapeutics during the third quarter worth about $43,000. FNY Investment Advisers LLC acquired a new stake in Protagonist Therapeutics during the fourth quarter worth about $38,000. CWM LLC increased its position in Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after purchasing an additional 1,147 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Protagonist Therapeutics during the third quarter worth $69,000. 98.63% of the stock is owned by institutional investors.

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.