Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel Sells 5,359 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 5,359 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the sale, the chief executive officer now directly owns 540,260 shares in the company, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $38.49 on Friday. Protagonist Therapeutics, Inc. has a 1 year low of $24.22 and a 1 year high of $48.89. The firm has a 50 day moving average price of $38.45 and a 200 day moving average price of $41.85. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 14.47 and a beta of 2.22.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors have recently bought and sold shares of PTGX. CWM LLC grew its holdings in Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Protagonist Therapeutics in the third quarter valued at approximately $43,000. Creative Planning purchased a new stake in Protagonist Therapeutics during the third quarter worth approximately $338,000. Bleakley Financial Group LLC purchased a new stake in Protagonist Therapeutics during the third quarter worth approximately $316,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Protagonist Therapeutics by 24,162.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 103,842 shares of the company’s stock worth $4,673,000 after buying an additional 103,414 shares during the period. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PTGX shares. Wedbush reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Friday, February 7th. The Goldman Sachs Group initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They issued a “neutral” rating and a $47.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

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.