Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells $570,300.00 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) insider Arturo Md Molina sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the transaction, the insider now directly owns 83,892 shares of the company's stock, valued at approximately $4,784,360.76. This represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Arturo Md Molina also recently made the following trade(s):

• On Thursday, March 13th, Arturo Md Molina sold 30,514 shares of Protagonist Therapeutics stock. The shares were sold at an average price of $55.74, for a total value of $1,700,850.36.

Protagonist Therapeutics Price Performance

Shares of NASDAQ:PTGX traded up $0.05 during trading on Friday, hitting $56.37. 985,411 shares of the company were exchanged, compared to its average volume of 896,197. The company has a market cap of $3.49 billion, a PE ratio of 21.19 and a beta of 2.25. The stock has a 50 day moving average of $46.72 and a 200 day moving average of $43.42. Protagonist Therapeutics, Inc. has a 52-week low of $30.67 and a 52-week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.31. The firm had revenue of $28.32 million for the quarter, compared to the consensus estimate of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. Sell-side analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors have recently made changes to their positions in PTGX. Deep Track Capital LP purchased a new stake in shares of Protagonist Therapeutics during the fourth quarter worth $38,600,000. Wellington Management Group LLP raised its position in shares of Protagonist Therapeutics by 3,025.4% in the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company's stock worth $36,287,000 after buying an additional 909,998 shares in the last quarter. BVF Inc. IL raised its position in shares of Protagonist Therapeutics by 35.5% in the first quarter. BVF Inc. IL now owns 2,575,015 shares of the company's stock worth $124,528,000 after buying an additional 675,000 shares in the last quarter. American Century Companies Inc. raised its position in shares of Protagonist Therapeutics by 61.5% in the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company's stock worth $35,832,000 after buying an additional 353,511 shares in the last quarter. Finally, New Vernon Capital Holdings II LLC raised its position in shares of Protagonist Therapeutics by 11,271.9% in the first quarter. New Vernon Capital Holdings II LLC now owns 348,095 shares of the company's stock worth $16,834,000 after buying an additional 345,034 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.

Wall Street Analysts Forecast Growth

PTGX has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Truist Financial upped their target price on Protagonist Therapeutics from $60.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Wedbush reiterated an "outperform" rating and issued a $70.00 price objective on shares of Protagonist Therapeutics in a research note on Friday, March 28th. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research note on Monday, March 3rd. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.44.

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.