Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells $1,162,200.00 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Arturo Md Molina sold 26,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the sale, the insider now owns 46,444 shares of the company’s stock, valued at approximately $2,076,046.80. The trade was a 35.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Arturo Md Molina also recently made the following trade(s):

• On Friday, November 15th, Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock. The stock was sold at an average price of $40.98, for a total transaction of $78,107.88.

Protagonist Therapeutics Stock Down 2.6 %

Shares of PTGX opened at $43.80 on Friday. The stock has a market cap of $2.61 billion, a PE ratio of 16.47 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 12-month low of $17.70 and a 12-month high of $48.89. The business has a 50-day simple moving average of $45.15 and a two-hundred day simple moving average of $39.76.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PTGX. Russell Investments Group Ltd. acquired a new stake in Protagonist Therapeutics during the 1st quarter worth approximately $35,000. Vanguard Group Inc. boosted its position in 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 acquiring an additional 39,055 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Protagonist Therapeutics by 74.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after acquiring an additional 3,870 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Protagonist Therapeutics in the 1st quarter valued at about $69,000. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of Protagonist Therapeutics by 4.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 188,743 shares of the company’s stock valued at $5,460,000 after purchasing an additional 8,247 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Wedbush reissued an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. JMP Securities reduced their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Truist Financial began coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently 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.