Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Sells 78,520 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm’s stock in a transaction that occurred on 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 directly owns 435,208 shares in the company, valued at approximately $20,437,367.68. This trade represents a 15.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Protagonist Therapeutics Trading Up 0.3 %

Shares of NASDAQ PTGX opened at $44.95 on Friday. The stock has a market cap of $2.68 billion, a P/E ratio of 16.90 and a beta of 2.17. Protagonist Therapeutics, Inc. has a twelve month low of $17.13 and a twelve month high of $48.89. The stock has a 50 day moving average of $45.22 and a two-hundred day moving average of $39.66.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of PTGX. GAMMA Investing LLC increased its stake in 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 purchasing an additional 487 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Protagonist Therapeutics during the first quarter worth about $35,000. Exchange Traded Concepts LLC acquired a new position in Protagonist Therapeutics in the 3rd quarter valued at about $43,000. CWM LLC raised its stake in Protagonist Therapeutics by 910.3% during 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 during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Protagonist Therapeutics during the 1st quarter worth approximately $69,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Truist Financial began coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 target price on the stock. Finally, TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Protagonist Therapeutics has an average rating of “Buy” and an average target price of $53.57.

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.