Dinesh V. Ph D. Patel Sells 22,065 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) CEO Dinesh V. Ph D. Patel sold 22,065 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $55.05, for a total value of $1,214,678.25. Following the completion of the sale, the chief executive officer owned 548,538 shares of the company's stock, valued at $30,197,016.90. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Protagonist Therapeutics Trading Up 2.6%

NASDAQ:PTGX traded up $1.41 on Friday, hitting $55.15. The company's stock had a trading volume of 490,995 shares, compared to its average volume of 973,621. The stock has a fifty day moving average of $52.09 and a two-hundred day moving average of $46.03. The firm has a market capitalization of $3.42 billion, a P/E ratio of 73.53 and a beta of 2.26. Protagonist Therapeutics, Inc. has a one year low of $32.50 and a one year high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data 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. Protagonist Therapeutics had a return on equity of 9.22% and a net margin of 27.04%. The firm had revenue of $28.32 million for the quarter, compared to analyst estimates of $30.44 million. As a group, sell-side analysts anticipate that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PTGX. Citigroup began coverage on Protagonist Therapeutics in a research note on Tuesday, June 17th. They set a "buy" rating and a $72.00 target price for the company. Wedbush restated an "outperform" rating and issued a $70.00 target price on shares of Protagonist Therapeutics in a research note on Friday, March 28th. HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Finally, Wall Street Zen upgraded Protagonist Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Protagonist Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.10.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Farallon Capital Management LLC grew its holdings in shares of Protagonist Therapeutics by 1.2% during the 4th quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company's stock valued at $228,898,000 after purchasing an additional 69,000 shares during the last quarter. RTW Investments LP grew its holdings in shares of Protagonist Therapeutics by 1.3% during the 4th quarter. RTW Investments LP now owns 5,498,545 shares of the company's stock valued at $212,244,000 after purchasing an additional 72,433 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Protagonist Therapeutics by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,277,218 shares of the company's stock valued at $206,846,000 after purchasing an additional 57,181 shares during the last quarter. BVF Inc. IL grew its holdings in shares of Protagonist Therapeutics by 35.5% during the 1st quarter. BVF Inc. IL now owns 2,575,015 shares of the company's stock valued at $124,528,000 after purchasing an additional 675,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Protagonist Therapeutics by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,392,652 shares of the company's stock valued at $53,758,000 after purchasing an additional 83,185 shares during the last quarter. 98.63% of the stock is owned by institutional investors.

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.