Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Sells 5,359 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Protagonist Therapeutics Stock Down 0.1 %

Protagonist Therapeutics stock traded down $0.04 during trading on Thursday, hitting $38.49. The stock had a trading volume of 618,655 shares, compared to its average volume of 552,820. Protagonist Therapeutics, Inc. has a 1 year low of $24.22 and a 1 year high of $48.89. The stock’s 50 day moving average is $38.45 and its two-hundred day moving average is $41.85. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 14.47 and a beta of 2.22.

Hedge Funds Weigh In On Protagonist Therapeutics

Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in Protagonist Therapeutics by 127.2% in the third quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after purchasing an additional 45,674 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Protagonist Therapeutics during the 3rd quarter valued at $1,107,000. Swedbank AB bought a new stake in Protagonist Therapeutics during the 3rd quarter valued at $2,250,000. Charles Schwab Investment Management Inc. raised its holdings in Protagonist Therapeutics by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock valued at $25,448,000 after acquiring an additional 39,850 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Protagonist Therapeutics by 3,099.4% during the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after acquiring an additional 310,804 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PTGX shares. StockNews.com cut shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised their price target on shares of Protagonist Therapeutics from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. BMO Capital Markets began coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research report on Friday, February 7th. Finally, Wedbush reissued an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.