Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Arturo Md Molina Sells 30,514 Shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) insider Arturo Md Molina sold 30,514 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36. Following the completion of the transaction, the insider now owns 83,892 shares of the company's stock, valued at $4,676,140.08. The trade was a 26.67 % 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 Price Performance

Shares of PTGX stock traded up $1.51 during trading hours on Tuesday, hitting $54.52. 784,643 shares of the company's stock were exchanged, compared to its average volume of 739,598. The stock's 50-day moving average is $39.93 and its 200-day moving average is $42.31. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 20.50 and a beta of 2.34. Protagonist Therapeutics, Inc. has a 52 week low of $24.22 and a 52 week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last announced its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, topping the consensus estimate of ($0.09) by $2.07. The company had revenue of $170.64 million for 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%. Equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Remove Ads

Analyst Upgrades and Downgrades

Several research firms have issued reports on PTGX. Truist Financial increased their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and set a $54.00 price objective on shares of Protagonist Therapeutics in a research note on Monday, March 10th. Finally, Wedbush reiterated an "outperform" rating and set a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Protagonist Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $62.56.

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its holdings in Protagonist Therapeutics by 174.6% in the fourth quarter. Mackenzie Financial Corp now owns 21,349 shares of the company's stock valued at $824,000 after acquiring an additional 13,575 shares during the last quarter. Toronto Dominion Bank bought a new position in Protagonist Therapeutics in the fourth quarter valued at about $13,162,000. Cache Advisors LLC bought a new position in Protagonist Therapeutics in the fourth quarter valued at about $392,000. GF Fund Management CO. LTD. bought a new position in Protagonist Therapeutics in the fourth quarter valued at about $48,000. Finally, Woodline Partners LP boosted its holdings in Protagonist Therapeutics by 24.8% in the fourth quarter. Woodline Partners LP now owns 582,327 shares of the company's stock valued at $22,478,000 after acquiring an additional 115,809 shares during the last quarter. Institutional investors own 98.63% of the company's stock.

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.