Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells $1,700,850.36 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Arturo Md Molina sold 30,514 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the sale, the insider now owns 83,892 shares of the company’s stock, valued at $4,676,140.08. This trade represents a 26.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Protagonist Therapeutics Stock Down 0.2 %

Protagonist Therapeutics stock opened at $54.78 on Friday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 20.59 and a beta of 2.34. Protagonist Therapeutics, Inc. has a 52 week low of $24.22 and a 52 week high of $60.60. The business’s 50-day moving average price is $39.63 and its 200 day moving average price is $42.24.

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

Institutional Trading of Protagonist Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Farallon Capital Management LLC grew its holdings in Protagonist Therapeutics by 1.2% during the fourth quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company’s stock worth $228,898,000 after acquiring an additional 69,000 shares during the period. RTW Investments LP grew its holdings in Protagonist Therapeutics by 1.3% in the fourth quarter. RTW Investments LP now owns 5,498,545 shares of the company’s stock valued at $212,244,000 after purchasing an additional 72,433 shares during the period. State Street Corp grew its holdings in Protagonist Therapeutics by 52.9% in the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after purchasing an additional 1,101,218 shares during the period. BVF Inc. IL grew its holdings in Protagonist Therapeutics by 2.7% in the fourth quarter. BVF Inc. IL now owns 1,900,015 shares of the company’s stock valued at $73,341,000 after purchasing an additional 49,848 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Protagonist Therapeutics by 8.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock valued at $72,432,000 after purchasing an additional 142,376 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, February 7th. The Goldman Sachs Group decreased their price objective on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Wedbush restated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, BMO Capital Markets increased their price target on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.22.

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.