Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells 30,514 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Arturo Md Molina sold 30,514 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $55.74, for a total value of $1,700,850.36. Following the sale, the insider now owns 83,892 shares of the company’s stock, valued at approximately $4,676,140.08. This trade represents a 26.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Protagonist Therapeutics Stock Down 0.2 %

Protagonist Therapeutics stock opened at $54.78 on Monday. The business has a 50 day moving average price of $39.63 and a two-hundred day moving average price of $42.23. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 20.59 and a beta of 2.34. Protagonist Therapeutics, Inc. has a 12 month low of $24.22 and a 12 month high of $60.60.

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

Hedge Funds Weigh In On Protagonist Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of Protagonist Therapeutics by 127.2% in the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock worth $3,782,000 after buying an additional 45,674 shares in the last quarter. Swedbank AB acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $2,250,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Protagonist Therapeutics by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock worth $25,448,000 after buying an additional 39,850 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Protagonist Therapeutics by 3,099.4% in the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock worth $14,437,000 after buying an additional 310,804 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Protagonist Therapeutics in the 3rd quarter worth approximately $861,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on PTGX shares. Wedbush reiterated an “outperform” rating on shares of Protagonist Therapeutics in a research note on Tuesday, March 11th. JMP Securities reiterated 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. boosted their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Truist Financial boosted their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.22.

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.