Protagonist Therapeutics (NASDAQ:PTGX) Trading 8.4% Higher – Here’s Why

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) was up 8.4% during mid-day trading on Tuesday . The company traded as high as $104.82 and last traded at $106.2370. Approximately 519,701 shares traded hands during trading, a decline of 29% from the average daily volume of 730,347 shares. The stock had previously closed at $98.03.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PTGX shares. Citigroup reissued an “outperform” rating on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. TD Cowen increased their target price on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Protagonist Therapeutics in a research note on Friday, May 15th. Truist Financial raised their price target on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $115.21.

Protagonist Therapeutics Trading Up 8.0%

The company has a market capitalization of $6.81 billion, a P/E ratio of -58.48 and a beta of 1.86. The firm’s 50 day moving average price is $101.25 and its two-hundred day moving average price is $92.64.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.55. The company had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. Analysts anticipate that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares of the company’s stock, valued at approximately $52,410,617.36. This trade represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harold E. Selick sold 24,000 shares of the firm’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $105.00, for a total transaction of $2,520,000.00. Following the completion of the transaction, the director directly owned 60,845 shares of the company’s stock, valued at $6,388,725. This represents a 28.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 263,345 shares of company stock worth $26,707,266. 5.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 156 shares in the last quarter. Greenline Wealth Management LLC bought a new position in shares of Protagonist Therapeutics in the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC grew its stake in shares of Protagonist Therapeutics by 138.9% in the third quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $36,000 after buying an additional 314 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Protagonist Therapeutics in the third quarter valued at $62,000. Finally, Osaic Holdings Inc. grew its stake in shares of Protagonist Therapeutics by 79.5% in the second quarter. Osaic Holdings Inc. now owns 1,185 shares of the company’s stock valued at $65,000 after buying an additional 525 shares in the last quarter. 98.63% of the stock is owned by institutional investors.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.