Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells $4,762,239.48 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Suneel Gupta sold 103,437 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the transaction, the insider now owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. This trade represents a 28.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Protagonist Therapeutics Trading Up 0.3 %

NASDAQ:PTGX traded up $0.12 on Wednesday, hitting $44.95. 569,522 shares of the company’s stock traded hands, compared to its average volume of 750,584. The company has a market cap of $2.68 billion, a PE ratio of 16.85 and a beta of 2.17. The firm has a 50-day moving average price of $45.24 and a 200-day moving average price of $39.58. Protagonist Therapeutics, Inc. has a 1 year low of $17.13 and a 1 year high of $48.89.

Institutional Investors Weigh In On Protagonist Therapeutics

Several large investors have recently made changes to their positions in the company. Farallon Capital Management LLC grew its stake 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 valued at $202,383,000 after buying an additional 101,800 shares in the last quarter. RTW Investments LP lifted its holdings in 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 purchasing an additional 139,708 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Protagonist Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after purchasing an additional 39,055 shares during the last quarter. State Street Corp lifted its holdings in Protagonist Therapeutics by 52.9% in the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after purchasing an additional 1,101,218 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Protagonist Therapeutics by 405,061.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after purchasing an additional 1,733,662 shares during the last quarter. Institutional investors own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

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