Protagonist Therapeutics (NASDAQ:PTGX) Shares Gap Up to $25.79

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $25.79, but opened at $27.08. Protagonist Therapeutics shares last traded at $25.79, with a volume of 129,002 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have commented on PTGX shares. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of Protagonist Therapeutics in a research report on Wednesday, February 28th. JPMorgan Chase & Co. raised their price objective on Protagonist Therapeutics from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Finally, StockNews.com upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Protagonist Therapeutics Stock Up 3.2 %

The firm has a market cap of $1.56 billion, a PE ratio of -17.31 and a beta of 2.09. The business has a 50 day simple moving average of $27.96 and a two-hundred day simple moving average of $23.87.

Protagonist Therapeutics (NASDAQ:PTGX) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.05 by $0.39. The firm had revenue of $60.00 million for the quarter, compared to analysts’ expectations of $60.00 million. Equities analysts forecast that Protagonist Therapeutics, Inc. will post 1.18 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In related news, CFO Asif Ali sold 14,248 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $32.24, for a total value of $459,355.52. Following the completion of the transaction, the chief financial officer now owns 38,397 shares of the company’s stock, valued at $1,237,919.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director William D. Waddill sold 12,975 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $31.34, for a total transaction of $406,636.50. Following the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at $376,080. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Asif Ali sold 14,248 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $32.24, for a total value of $459,355.52. Following the completion of the sale, the chief financial officer now directly owns 38,397 shares of the company’s stock, valued at approximately $1,237,919.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,457 shares of company stock valued at $2,553,328. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PTGX. China Universal Asset Management Co. Ltd. increased its holdings in shares of Protagonist Therapeutics by 96.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,473 shares of the company’s stock valued at $25,000 after purchasing an additional 723 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Protagonist Therapeutics in the 1st quarter valued at about $35,000. Los Angeles Capital Management LLC purchased a new position in Protagonist Therapeutics during the fourth quarter worth approximately $210,000. Teacher Retirement System of Texas grew its holdings in Protagonist Therapeutics by 6.1% in the third quarter. Teacher Retirement System of Texas now owns 12,954 shares of the company’s stock valued at $216,000 after purchasing an additional 740 shares during the period. Finally, Obermeyer Wood Investment Counsel Lllp increased its position in shares of Protagonist Therapeutics by 9.4% in the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 13,792 shares of the company’s stock valued at $230,000 after buying an additional 1,180 shares in the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.

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.