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 Protagonist Therapeutics stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.04, for a total value of $4,762,239.48. Following the sale, the insider now directly owns 256,174 shares in the company, valued at $11,794,250.96. The trade was a 28.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Protagonist Therapeutics Trading Down 2.6 %

NASDAQ PTGX opened at $43.80 on Friday. Protagonist Therapeutics, Inc. has a 1-year low of $17.70 and a 1-year high of $48.89. The company has a 50 day moving average of $45.15 and a 200-day moving average of $39.76. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 16.47 and a beta of 2.17.

Analyst Upgrades and Downgrades

PTGX has been the topic of a number of recent research reports. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. JMP Securities decreased 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 research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Wedbush reaffirmed an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, Truist Financial started coverage on Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $53.57.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock worth $25,000 after purchasing an additional 487 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Protagonist Therapeutics in the third quarter valued at about $43,000. Russell Investments Group Ltd. acquired a new position in Protagonist Therapeutics during the 1st quarter worth about $35,000. CWM LLC lifted its position in Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock worth $57,000 after buying an additional 1,147 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Protagonist Therapeutics during the 3rd quarter worth 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.