Dinesh Ph Patel Sells 63,548 Shares of Protagonist Therapeutics (NASDAQ:PTGX) Stock

Key Points

• CEO Dinesh Ph Patel sold 63,548 Protagonist Therapeutics shares at an average price of $146.18, generating approximately $9.29 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his direct ownership by 10.83%.
• Protagonist shares recently traded near $145, with a market capitalization of approximately $9.39 billion. The company reported quarterly EPS of $2.29, slightly exceeding estimates, while revenue surged 3,746.8% year over year to $213.47 million.
• Analyst sentiment remains positive, with 16 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $147.13; several firms recently raised targets as high as $182.

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) CEO Dinesh Ph Patel sold 63,548 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $146.18, for a total value of $9,289,446.64. Following the completion of the transaction, the chief executive officer directly owned 522,968 shares in the company, valued at approximately $76,447,462.24. This trade represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Stock Performance

Shares of Protagonist Therapeutics stock traded up $0.07 on Thursday, reaching $145.16. 543,127 shares of the company's stock were exchanged, compared to its average volume of 483,614. The company has a market capitalization of $9.39 billion, a P/E ratio of 140.93 and a beta of 1.80. Protagonist Therapeutics, Inc. has a 52 week low of $57.53 and a 52 week high of $160.81. The firm's 50-day moving average is $142.81 and its two-hundred day moving average is $116.73.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.02. The company had revenue of $213.47 million for the quarter, compared to the consensus estimate of $212.03 million. Protagonist Therapeutics had a net margin of 29.40% and a return on equity of 12.03%. The company's revenue was up 3746.8% compared to the same quarter last year. On average, analysts expect that Protagonist Therapeutics, Inc. will post 4.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wolfe Research reaffirmed an "outperform" rating on shares of Protagonist Therapeutics in a research report on Monday, August 31st. TD Cowen reiterated a "buy" rating on shares of Protagonist Therapeutics in a report on Wednesday, July 1st. Truist Financial raised their price objective on Protagonist Therapeutics from $145.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Barclays upped their target price on Protagonist Therapeutics from $153.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 1st. Finally, Citigroup increased their target price on Protagonist Therapeutics from $175.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, August 31st. Sixteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $147.13.

Hedge Funds Weigh In On Protagonist Therapeutics

Large investors have recently added to or reduced their stakes in the business. Greenline Wealth Management LLC bought a new position in shares of Protagonist Therapeutics in the fourth quarter valued at approximately $27,000. Keating Financial Advisory Services Inc. bought a new position in shares of Protagonist Therapeutics during the second quarter valued at about $30,000. Allworth Financial LP bought a new stake in Protagonist Therapeutics in the 2nd quarter worth about $31,000. Quantbot Technologies LP bought a new stake in Protagonist Therapeutics in the 2nd quarter worth about $42,000. Finally, Osaic Holdings Inc. increased its stake in Protagonist Therapeutics by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock valued at $65,000 after buying an additional 525 shares during the last quarter. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc is a biopharmaceutical company focused on developing peptide-based medicines for immune-mediated diseases and hematologic disorders. The company uses its peptide discovery and development platform to create therapies designed to selectively modulate disease-related biological pathways.

Protagonist's pipeline has included icotrokinra (also known as JNJ-2113), an oral peptide that targets the interleukin-23 receptor and is being developed for inflammatory and immune-mediated conditions in collaboration with Johnson & Johnson.

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