Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Sells $3,687,299.20 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 78,520 shares of Protagonist Therapeutics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.96, for a total transaction of $3,687,299.20. Following the sale, the chief executive officer now owns 435,208 shares in the company, valued at $20,437,367.68. This represents a 15.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock traded up $0.12 during midday trading on Wednesday, hitting $44.95. 569,522 shares of the company’s stock were exchanged, compared to its average volume of 750,584. Protagonist Therapeutics, Inc. has a 52-week low of $17.13 and a 52-week high of $48.89. The stock has a 50-day moving average price of $45.24 and a two-hundred day moving average price of $39.58. The company has a market cap of $2.68 billion, a P/E ratio of 16.85 and a beta of 2.17.

Hedge Funds Weigh In On Protagonist Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farallon Capital Management LLC boosted its holdings in shares of Protagonist Therapeutics by 1.8% in the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock worth $202,383,000 after purchasing an additional 101,800 shares in the last quarter. RTW Investments LP grew its position in shares of Protagonist Therapeutics by 2.6% in the 3rd quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock worth $244,175,000 after buying an additional 139,708 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Protagonist Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after purchasing an additional 39,055 shares in the last quarter. State Street Corp raised its stake in Protagonist Therapeutics by 52.9% during the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after buying an additional 1,101,218 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Protagonist Therapeutics by 405,061.2% during the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock valued at $78,034,000 after buying an additional 1,733,662 shares during the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PTGX shares. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Wedbush reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. JMP Securities dropped their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $53.57.

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.