Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Director Sells $217,000.00 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Director William D. Waddill sold 4,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the sale, the director now owns 13,130 shares of the company’s stock, valued at $712,302.50. This represents a 23.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Protagonist Therapeutics Trading Down 0.8 %

Shares of NASDAQ:PTGX opened at $52.65 on Friday. Protagonist Therapeutics, Inc. has a 12-month low of $24.22 and a 12-month high of $60.60. The business’s fifty day simple moving average is $41.21 and its 200-day simple moving average is $42.62. The company has a market capitalization of $3.23 billion, a PE ratio of 19.79 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Friday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. Research analysts predict that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PTGX shares. HC Wainwright reiterated a “buy” rating and set a $54.00 target price on shares of Protagonist Therapeutics in a research report on Monday, March 10th. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. JMP Securities reissued a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price target on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, Truist Financial raised their price target on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PTGX. Bank of Montreal Can boosted its position in shares of Protagonist Therapeutics by 4.5% in the 4th quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock worth $241,000 after purchasing an additional 270 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Protagonist Therapeutics by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock worth $779,000 after purchasing an additional 278 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Protagonist Therapeutics by 10.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after purchasing an additional 295 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Protagonist Therapeutics by 1.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after purchasing an additional 300 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Protagonist Therapeutics by 54.4% in the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after purchasing an additional 737 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.