Protagonist Therapeutics (NASDAQ:PTGX) Shares Gap Up to $25.79

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $25.79, but opened at $27.08. Protagonist Therapeutics shares last traded at $25.79, with a volume of 129,002 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. HC Wainwright reissued a "buy" rating and issued a $38.00 price objective on shares of Protagonist Therapeutics in a research note on Wednesday, February 28th. StockNews.com upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. increased their target price on Protagonist Therapeutics from $34.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, February 28th. Finally, JMP Securities increased their target price on Protagonist Therapeutics from $42.00 to $45.00 and gave the stock a "market outperform" rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Protagonist Therapeutics has an average rating of "Moderate Buy" and an average price target of $38.00.

Protagonist Therapeutics Stock Performance

The company has a market capitalization of $1.59 billion, a P/E ratio of -18.19 and a beta of 2.09. The stock's 50 day moving average price is $27.89 and its 200 day moving average price is $23.89.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.39. The firm had revenue of $60.00 million during the quarter, compared to the consensus estimate of $60.00 million. On average, analysts expect that Protagonist Therapeutics, Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Activity

In other Protagonist Therapeutics news, CFO Asif Ali sold 14,248 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $32.24, for a total transaction of $459,355.52. Following the sale, the chief financial officer now owns 38,397 shares in the company, valued at approximately $1,237,919.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director William D. Waddill sold 12,975 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $31.34, for a total transaction of $406,636.50. Following the sale, the director now owns 12,000 shares in the company, valued at $376,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Asif Ali sold 14,248 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $32.24, for a total value of $459,355.52. Following the completion of the transaction, the chief financial officer now directly owns 38,397 shares of the company's stock, valued at $1,237,919.28. The disclosure for this sale can be found here. Insiders have sold a total of 83,457 shares of company stock valued at $2,553,328 in the last 90 days. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Protagonist Therapeutics

Hedge funds have recently modified their holdings of the business. ProShare Advisors LLC raised its position in Protagonist Therapeutics by 9.2% in the 1st quarter. ProShare Advisors LLC now owns 14,345 shares of the company's stock valued at $415,000 after purchasing an additional 1,206 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Protagonist Therapeutics during the first quarter worth $35,000. Sei Investments Co. raised its holdings in shares of Protagonist Therapeutics by 12.2% in the first quarter. Sei Investments Co. now owns 41,758 shares of the company's stock worth $1,208,000 after acquiring an additional 4,529 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Protagonist Therapeutics by 179.8% in the first quarter. GSA Capital Partners LLP now owns 55,359 shares of the company's stock valued at $1,602,000 after purchasing an additional 35,571 shares during the period. Finally, Privium Fund Management B.V. purchased a new stake in shares of Protagonist Therapeutics in the first quarter valued at $3,299,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.