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

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 5,359 shares of the stock in a transaction 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 directly owns 540,260 shares in the company, valued at approximately $20,627,126.80. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Protagonist Therapeutics Trading Up 0.7 %

NASDAQ:PTGX opened at $38.75 on Friday. The company’s 50-day moving average price is $38.37 and its 200-day moving average price is $41.85. The company has a market cap of $2.31 billion, a P/E ratio of 14.57 and a beta of 2.22. Protagonist Therapeutics, Inc. has a twelve month low of $24.22 and a twelve month high of $48.89.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a net margin of 52.76% and a return on equity of 34.68%. The company had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. On average, analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors have recently bought and sold shares of PTGX. FNY Investment Advisers LLC purchased a new position in Protagonist Therapeutics during the fourth quarter worth about $38,000. Exchange Traded Concepts LLC purchased a new position in Protagonist Therapeutics during the third quarter worth about $43,000. GF Fund Management CO. LTD. purchased a new position in Protagonist Therapeutics during the fourth quarter worth about $48,000. CWM LLC raised its stake in Protagonist Therapeutics by 910.3% during the third quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after purchasing an additional 1,147 shares during the period. Finally, Covestor Ltd raised its stake in Protagonist Therapeutics by 5,200.0% during the fourth quarter. Covestor Ltd now owns 1,643 shares of the company’s stock worth $63,000 after purchasing an additional 1,612 shares during the period. 98.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. JMP Securities reaffirmed a “market outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Friday, February 7th. Finally, BMO Capital Markets assumed coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target on the stock. Two research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.00.

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.