Dinesh V. Ph D. Patel Sells 78,520 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 78,520 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.96, for a total value of $3,687,299.20. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Protagonist Therapeutics Stock Up 0.3 %

NASDAQ PTGX opened at $44.95 on Thursday. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 16.90 and a beta of 2.17. Protagonist Therapeutics, Inc. has a twelve month low of $17.13 and a twelve month high of $48.89. The business’s fifty day moving average is $45.24 and its 200 day moving average is $39.62.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. 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 report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Wedbush restated an “outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Truist Financial initiated coverage on Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Buy” and an average target price of $53.57.

Institutional Trading of Protagonist Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Farallon Capital Management LLC boosted its position in Protagonist Therapeutics by 1.8% during the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock worth $202,383,000 after buying an additional 101,800 shares during the period. RTW Investments LP raised its stake in shares of Protagonist Therapeutics by 2.6% during the third quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock valued at $244,175,000 after acquiring an additional 139,708 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Protagonist Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after purchasing an additional 39,055 shares during the last quarter. State Street Corp increased its holdings in Protagonist Therapeutics by 52.9% in the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after purchasing an additional 1,101,218 shares during the period. Finally, Pacer Advisors Inc. raised its position in Protagonist Therapeutics by 405,061.2% during the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after purchasing an additional 1,733,662 shares during the last quarter. 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.