Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Sells 17,520 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) CEO Dinesh V. Ph D. Patel sold 17,520 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $54.79, for a total value of $959,920.80. Following the sale, the chief executive officer owned 531,018 shares of the company's stock, valued at approximately $29,094,476.22. This represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Protagonist Therapeutics Stock Performance

NASDAQ:PTGX traded up $1.41 during trading on Friday, reaching $55.15. The company's stock had a trading volume of 490,995 shares, compared to its average volume of 973,621. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 73.53 and a beta of 2.26. The firm has a 50 day moving average of $52.09 and a 200-day moving average of $46.03. Protagonist Therapeutics, Inc. has a 12 month low of $32.50 and a 12 month high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.31. The firm had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. Protagonist Therapeutics had a return on equity of 9.22% and a net margin of 27.04%. Equities research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Protagonist Therapeutics by 201.5% in the second quarter. CWM LLC now owns 609 shares of the company's stock worth $34,000 after purchasing an additional 407 shares during the period. GAMMA Investing LLC increased its position in shares of Protagonist Therapeutics by 153.3% in the first quarter. GAMMA Investing LLC now owns 1,203 shares of the company's stock valued at $58,000 after acquiring an additional 728 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Protagonist Therapeutics by 141.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,211 shares of the company's stock valued at $59,000 after acquiring an additional 710 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Protagonist Therapeutics in the fourth quarter valued at about $48,000. Finally, Brooklyn Investment Group purchased a new position in shares of Protagonist Therapeutics in the first quarter valued at about $68,000. Institutional investors own 98.63% of the company's stock.

Wall Street Analyst Weigh In

PTGX has been the subject of several research reports. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, June 3rd. Wall Street Zen raised shares of Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Citigroup initiated coverage on shares of Protagonist Therapeutics in a research report on Tuesday, June 17th. They issued a "buy" rating and a $72.00 price target for the company. Finally, Wedbush reissued an "outperform" rating and issued a $70.00 price target on shares of Protagonist Therapeutics in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $66.10.

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.