Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) fell 6.2% during trading on Thursday . The stock traded as low as $35.03 and last traded at $35.59. 102,731 shares changed hands during trading, a decline of 82% from the average session volume of 561,856 shares. The stock had previously closed at $37.94.
Analyst Ratings Changes
A number of research firms have recently commented on PTGX. The Goldman Sachs Group started coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They issued a "neutral" rating and a $47.00 price target on the stock. BMO Capital Markets initiated coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set an "outperform" rating and a $62.00 price objective on the stock. Wedbush reaffirmed an "outperform" rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. HC Wainwright reissued a "buy" rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research report on Tuesday, December 10th. Finally, TD Cowen upgraded Protagonist Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.78.
View Our Latest Stock Report on Protagonist Therapeutics
Protagonist Therapeutics Stock Up 0.8 %
The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.84 and a beta of 2.23. The business has a fifty day simple moving average of $40.55 and a two-hundred day simple moving average of $41.62.
Insider Activity at Protagonist Therapeutics
In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of Protagonist Therapeutics stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the transaction, the insider now directly owns 46,444 shares of the company's stock, valued at approximately $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Suneel Gupta sold 103,437 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the completion of the sale, the insider now owns 256,174 shares in the company, valued at $11,794,250.96. This represents a 28.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,863 shares of company stock valued at $9,689,847 in the last 90 days. 5.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of PTGX. GAMMA Investing LLC grew its position in 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 acquiring an additional 487 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Protagonist Therapeutics in the fourth quarter worth $38,000. Exchange Traded Concepts LLC bought a new stake in shares of Protagonist Therapeutics during the third quarter worth $43,000. CWM LLC increased its stake in shares of Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company's stock valued at $57,000 after buying an additional 1,147 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Protagonist Therapeutics in the third quarter valued at about $69,000. Institutional investors own 98.63% of the company's stock.
About Protagonist Therapeutics
(
Get Free Report)
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.
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