Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Suneel Gupta Sells 103,437 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Suneel Gupta sold 103,437 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the transaction, the insider now owns 256,174 shares of the company’s stock, valued at $11,794,250.96. The trade was a 28.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Protagonist Therapeutics Trading Up 0.3 %

NASDAQ PTGX traded up $0.12 during midday trading on Wednesday, hitting $44.95. The company had a trading volume of 569,522 shares, compared to its average volume of 750,584. The company has a market capitalization of $2.68 billion, a PE ratio of 16.85 and a beta of 2.17. The firm has a 50-day moving average price of $45.24 and a 200-day moving average price of $39.58. Protagonist Therapeutics, Inc. has a twelve month low of $17.13 and a twelve month high of $48.89.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. StockNews.com upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Truist Financial assumed coverage on Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. JMP Securities lowered their price target on 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. Finally, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $53.57.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Protagonist Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after buying an additional 39,055 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Protagonist Therapeutics in the 3rd quarter valued at about $1,107,000. Seven Eight Capital LP grew its position in shares of Protagonist Therapeutics by 426.9% in the 2nd quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after buying an additional 29,810 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Protagonist Therapeutics by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock valued at $7,079,000 after buying an additional 17,065 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Protagonist Therapeutics in the 2nd quarter valued at about $2,112,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

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.