Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel Sells 78,520 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 78,520 shares of Protagonist Therapeutics stock in a transaction dated Monday, November 25th. The shares were 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 directly owns 435,208 shares in the company, valued at approximately $20,437,367.68. This represents a 15.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Protagonist Therapeutics Stock Up 0.3 %

Shares of PTGX stock opened at $44.95 on Thursday. Protagonist Therapeutics, Inc. has a 12-month low of $17.13 and a 12-month high of $48.89. The company has a market capitalization of $2.68 billion, a PE ratio of 16.90 and a beta of 2.17. The firm has a 50 day moving average price of $45.24 and a two-hundred day moving average price of $39.62.

Analyst Ratings Changes

PTGX has been the topic of several recent analyst reports. Truist Financial initiated coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. JMP Securities dropped their target price on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Wedbush reiterated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $53.57.

Institutional Trading of Protagonist Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after buying an additional 487 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Protagonist Therapeutics in the third quarter valued at about $43,000. Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics during the first quarter worth about $35,000. CWM LLC raised its stake in Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after purchasing an additional 1,147 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Protagonist Therapeutics in the 3rd quarter valued at about $69,000. 98.63% of the stock is owned by institutional investors and hedge funds.

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.