Dinesh Ph Patel Sells 63,548 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 63,548 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $146.18, for a total value of $9,289,446.64. Following the sale, the chief executive officer directly owned 522,968 shares of the company’s stock, valued at approximately $76,447,462.24. This represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Stock Up 0.0%

NASDAQ PTGX traded up $0.07 during trading hours on Thursday, reaching $145.16. 543,127 shares of the company were exchanged, compared to its average volume of 483,614. The stock has a market capitalization of $9.39 billion, a P/E ratio of 140.93 and a beta of 1.80. Protagonist Therapeutics, Inc. has a 1 year low of $57.53 and a 1 year high of $160.81. The business’s 50 day simple moving average is $142.81 and its 200-day simple moving average is $116.73.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.02. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The firm had revenue of $213.47 million during the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics’s quarterly revenue was up 3746.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP bought a new position in shares of Protagonist Therapeutics in the second quarter valued at approximately $536,000. Arizona State Retirement System grew its position in shares of Protagonist Therapeutics by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 14,085 shares of the company’s stock valued at $1,727,000 after purchasing an additional 347 shares in the last quarter. Nykredit A S purchased a new position in shares of Protagonist Therapeutics during the 2nd quarter valued at $296,000. Amundi increased its holdings in shares of Protagonist Therapeutics by 87.0% in the second quarter. Amundi now owns 7,692 shares of the company’s stock worth $943,000 after purchasing an additional 3,579 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Protagonist Therapeutics in the second quarter worth $1,373,000. Institutional investors own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PTGX has been the topic of several research reports. TD Cowen restated a “buy” rating on shares of Protagonist Therapeutics in a research note on Wednesday, July 1st. Barclays lifted their price objective on Protagonist Therapeutics from $153.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. HC Wainwright upped their price objective on shares of Protagonist Therapeutics from $167.00 to $170.00 and gave the company a “buy” rating in a report on Monday, August 31st. Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Finally, BMO Capital Markets raised their price objective on shares of Protagonist Therapeutics from $178.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, September 1st. Sixteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.13.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist’s pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.