Protagonist Therapeutics (NASDAQ:PTGX) Shares Gap Down to $4.69

Protagonist Therapeutics Inc (NASDAQ:PTGX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $1.56, but opened at $4.69. Protagonist Therapeutics shares last traded at $7.60, with a volume of 451,232 shares traded.

PTGX has been the topic of a number of research reports. ValuEngine raised shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday. Nomura restated a “buy” rating and issued a $29.00 target price on shares of Protagonist Therapeutics in a research report on Sunday, August 11th. Zacks Investment Research raised Protagonist Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, November 19th. Svb Leerink reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research report on Tuesday, August 13th. Finally, BidaskClub downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.60.

The company has a market cap of $236.70 million, a PE ratio of -4.79 and a beta of 1.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.68 and a current ratio of 4.68. The firm’s 50 day moving average is $10.82 and its 200-day moving average is $11.79.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Wednesday, November 6th. The company reported ($0.61) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.71) by $0.10. The business had revenue of $4.14 million for the quarter, compared to analyst estimates of $5.75 million. Protagonist Therapeutics had a negative net margin of 209.02% and a negative return on equity of 74.86%. On average, analysts predict that Protagonist Therapeutics Inc will post -2.99 EPS for the current year.

In other Protagonist Therapeutics news, Director Bryan Giraudo bought 8,000 shares of Protagonist Therapeutics stock in a transaction on Tuesday, December 3rd. The shares were bought at an average price of $5.70 per share, for a total transaction of $45,600.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $57,000. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Suneel Gupta purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average cost of $5.13 per share, for a total transaction of $153,900.00. Following the purchase, the executive vice president now owns 389,824 shares in the company, valued at $1,999,797.12. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 39,175 shares of company stock valued at $205,493. Insiders own 14.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in shares of Protagonist Therapeutics by 1,433.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,450 shares of the company’s stock worth $41,000 after acquiring an additional 3,225 shares during the last quarter. Metropolitan Life Insurance Co NY purchased a new stake in Protagonist Therapeutics in the third quarter valued at approximately $79,000. Rhumbline Advisers lifted its stake in Protagonist Therapeutics by 20.7% during the third quarter. Rhumbline Advisers now owns 15,540 shares of the company’s stock worth $187,000 after purchasing an additional 2,662 shares in the last quarter. Algert Global LLC lifted its stake in Protagonist Therapeutics by 48.0% during the second quarter. Algert Global LLC now owns 15,517 shares of the company’s stock worth $188,000 after purchasing an additional 5,030 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Protagonist Therapeutics during the second quarter worth $216,000. Institutional investors and hedge funds own 69.62% of the company’s stock.

About Protagonist Therapeutics (NASDAQ:PTGX)

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.

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