Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Suneel Gupta Sells 103,437 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Suneel Gupta sold 103,437 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The stock was 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 owns 256,174 shares in the company, valued at approximately $11,794,250.96. The trade was a 28.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Protagonist Therapeutics Trading Up 0.3 %

Shares of PTGX opened at $44.95 on Thursday. Protagonist Therapeutics, Inc. has a 12-month low of $17.13 and a 12-month high of $48.89. The firm has a market capitalization of $2.68 billion, a P/E ratio of 16.90 and a beta of 2.17. The firm has a 50-day moving average price of $45.24 and a 200 day moving average price of $39.62.

Hedge Funds Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after buying an additional 487 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Protagonist Therapeutics in the third quarter worth approximately $43,000. Russell Investments Group Ltd. acquired a new stake in Protagonist Therapeutics during the first quarter worth $35,000. CWM LLC raised its position 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. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at $69,000. 98.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on PTGX. JMP Securities decreased their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Finally, Truist Financial started coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $53.57.

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.