Dinesh Ph Patel Sells 54,174 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 54,174 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $145.87, for a total value of $7,902,361.38. Following the transaction, the chief executive officer directly owned 522,968 shares in the company, valued at approximately $76,285,342.16. This represents a 9.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Stock Performance

Shares of PTGX opened at $148.18 on Friday. The business’s fifty day moving average price is $143.14 and its two-hundred day moving average price is $116.95. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 143.87 and a beta of 1.80. Protagonist Therapeutics, Inc. has a 52 week low of $57.90 and a 52 week high of $160.81.

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

Institutional Trading of Protagonist Therapeutics

A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Protagonist Therapeutics by 30.6% during the first quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after buying an additional 2,334 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Protagonist Therapeutics by 0.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after purchasing an additional 348 shares during the last quarter. Millennium Management LLC grew its position in Protagonist Therapeutics by 283.6% in the first quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock valued at $6,493,000 after purchasing an additional 99,269 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Protagonist Therapeutics in the 2nd quarter valued at $987,000. Finally, Guggenheim Capital LLC lifted its position in Protagonist Therapeutics by 1.6% during the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after buying an additional 303 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PTGX shares. Johnson Rice set a $165.00 target price on shares of Protagonist Therapeutics in a research note on Friday, July 17th. The Goldman Sachs Group raised shares of Protagonist Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $186.00 in a report on Monday, August 10th. Zacks Research downgraded Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Truist Financial raised their price target on Protagonist Therapeutics from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Citigroup upped their price objective on Protagonist Therapeutics from $175.00 to $182.00 and gave the company a “buy” rating in a report on Monday, August 31st. Sixteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.13.

About Protagonist Therapeutics

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.