Protagonist Therapeutics (NASDAQ:PTGX) Sets New 52-Week High - Here's What Happened

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $48.60 and last traded at $48.58, with a volume of 64379 shares changing hands. The stock had previously closed at $47.26.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JMP Securities reduced their price target 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. StockNews.com raised shares of Protagonist Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday, August 8th. HC Wainwright boosted their target price on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. TD Cowen raised shares of Protagonist Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 25th. Finally, Truist Financial assumed coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a "buy" rating and a $60.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $49.86.

Protagonist Therapeutics Trading Up 2.0 %

The company has a 50-day simple moving average of $44.52 and a 200 day simple moving average of $36.71. The firm has a market cap of $2.84 billion, a PE ratio of 18.51 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). The company had revenue of $4.17 million during the quarter, compared to analysts' expectations of $40.00 million. On average, equities analysts expect that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current year.

Insider Activity

In related news, CFO Asif Ali sold 14,203 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares of the company's stock, valued at approximately $1,555,370.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Protagonist Therapeutics news, CFO Asif Ali sold 14,203 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares of the company's stock, valued at $1,555,370.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Waddill sold 8,000 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the sale, the director now directly owns 12,000 shares of the company's stock, valued at $540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.40% of the company's stock.

Institutional Trading of Protagonist Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Protagonist Therapeutics by 749.2% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the company's stock worth $25,000 after purchasing an additional 487 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Protagonist Therapeutics during the 1st quarter valued at about $35,000. Exchange Traded Concepts LLC purchased a new position in Protagonist Therapeutics during the 3rd quarter valued at about $43,000. CWM LLC boosted its holdings in Protagonist Therapeutics by 910.3% during the 3rd quarter. CWM LLC now owns 1,273 shares of the company's stock valued at $57,000 after acquiring an additional 1,147 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in Protagonist Therapeutics during the 1st quarter valued at about $69,000. 98.63% of the stock is owned by institutional investors and hedge funds.

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.