Protagonist Therapeutics (NASDAQ:PTGX) Trading Down 4.4% – Should You Sell?

Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) dropped 4.4% during mid-day trading on Monday . The stock traded as low as $37.75 and last traded at $37.82. Approximately 126,738 shares changed hands during trading, a decline of 59% from the average daily volume of 311,539 shares. The stock had previously closed at $39.57.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PTGX shares. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a report on Friday, December 6th. They issued an “outperform” rating and a $62.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set a “neutral” rating and a $47.00 price target on the stock. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, Truist Financial initiated coverage on Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.78.

Protagonist Therapeutics Trading Down 2.7 %

The company has a market cap of $2.29 billion, a price-to-earnings ratio of 14.47 and a beta of 2.23. The stock’s 50-day moving average is $42.50 and its 200-day moving average is $41.35.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 435,208 shares of the company’s stock, valued at approximately $20,437,367.68. This trade represents a 15.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Arturo Md Molina sold 1,906 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $40.98, for a total value of $78,107.88. Following the completion of the transaction, the insider now directly owns 46,444 shares in the company, valued at approximately $1,903,275.12. This represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,863 shares of company stock valued at $9,689,847. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in Protagonist Therapeutics by 3,099.4% during the third quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after buying an additional 310,804 shares during the period. Franklin Resources Inc. boosted its stake in Protagonist Therapeutics by 127.2% in the third quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after acquiring an additional 45,674 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at approximately $909,000. Geode Capital Management LLC increased its stake in shares of Protagonist Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company’s stock worth $61,873,000 after purchasing an additional 3,528 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Protagonist Therapeutics by 223.6% in the 3rd quarter. Barclays PLC now owns 126,995 shares of the company’s stock worth $5,714,000 after purchasing an additional 87,755 shares during the period. 98.63% of the stock is currently owned by institutional investors.

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.