Protagonist Therapeutics (NASDAQ:PTGX) Trading Down 2.3% – What’s Next?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) shares fell 2.3% during mid-day trading on Tuesday . The stock traded as low as $39.40 and last traded at $39.65. 69,921 shares changed hands during trading, a decline of 91% from the average session volume of 745,951 shares. The stock had previously closed at $40.60.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PTGX shares. StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group began coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They set a “neutral” rating and a $47.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Truist Financial began coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price target for the company. Finally, BMO Capital Markets assumed coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 price target on the stock. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.78.

Protagonist Therapeutics Stock Down 3.8 %

The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 14.68 and a beta of 2.18. The company has a 50-day moving average price of $44.02 and a 200-day moving average price of $41.01.

Insider Transactions at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 26,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the transaction, the insider now owns 46,444 shares in the company, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.96, for a total value of $3,687,299.20. Following the completion of the sale, the chief executive officer now owns 435,208 shares of the company’s stock, valued at $20,437,367.68. This trade represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,863 shares of company stock valued at $9,689,847. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in Protagonist Therapeutics by 749.2% during the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after buying an additional 487 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Protagonist Therapeutics during the 3rd quarter valued at $43,000. CWM LLC boosted its stake in shares of Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after acquiring an additional 1,147 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter worth $69,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Protagonist Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock worth $95,000 after purchasing an additional 379 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

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.