Protagonist Therapeutics (NASDAQ:PTGX) Shares Down 6.2% – Time to Sell?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) fell 6.2% on Thursday . The company traded as low as $35.03 and last traded at $35.59. 102,731 shares traded hands during trading, a decline of 82% from the average session volume of 561,856 shares. The stock had previously closed at $37.94.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PTGX. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, December 10th. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. The Goldman Sachs Group initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They issued a “neutral” rating and a $47.00 target price for the company. Finally, StockNews.com lowered shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.78.

Protagonist Therapeutics Trading Down 3.7 %

The company has a fifty day moving average of $40.96 and a 200-day moving average of $41.64. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 13.70 and a beta of 2.23.

Insider Activity

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 1,906 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $40.98, for a total transaction of $78,107.88. Following the completion of the sale, the insider now owns 46,444 shares of the company’s stock, valued at $1,903,275.12. This trade represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the completion of the sale, the chief executive officer now owns 435,208 shares in the company, valued at approximately $20,437,367.68. This trade represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,863 shares of company stock worth $9,689,847 over the last three months. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Protagonist Therapeutics

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Protagonist Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after purchasing an additional 379 shares during the period. GAMMA Investing LLC grew its stake in shares of Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after buying an additional 487 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Protagonist Therapeutics during the 3rd quarter worth about $43,000. FNY Investment Advisers LLC purchased a new position in Protagonist Therapeutics during the 4th quarter valued at about $38,000. Finally, CWM LLC grew its position in Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after acquiring an additional 1,147 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.