Protagonist Therapeutics (NASDAQ:PTGX) Trading Down 7.2% - What's Next?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report)'s share price dropped 7.2% during trading on Tuesday . The stock traded as low as $51.19 and last traded at $51.28. Approximately 416,038 shares traded hands during trading, a decline of 53% from the average daily volume of 890,056 shares. The stock had previously closed at $55.27.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on 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. BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a report on Monday, March 3rd. BMO Capital Markets upped their target price on shares of Protagonist Therapeutics from $62.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. Truist Financial boosted their price objective on Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.10.

Protagonist Therapeutics Stock Down 9.0%

The business has a fifty day moving average of $48.97 and a 200 day moving average of $44.40. The company has a market cap of $3.12 billion, a P/E ratio of 67.05 and a beta of 2.25.

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

Insider Activity at Protagonist Therapeutics

In related news, insider Arturo Md Molina sold 10,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $57.03, for a total value of $570,300.00. Following the completion of the sale, the insider directly owned 83,892 shares in the company, valued at approximately $4,784,360.76. This trade represents a 10.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Asif Ali sold 1,756 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $46.00, for a total transaction of $80,776.00. Following the completion of the sale, the chief financial officer owned 61,065 shares in the company, valued at $2,808,990. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farallon Capital Management LLC raised its stake in shares of Protagonist Therapeutics by 1.2% in the fourth quarter. Farallon Capital Management LLC now owns 5,930,006 shares of the company's stock worth $228,898,000 after buying an additional 69,000 shares during the period. RTW Investments LP raised its stake in Protagonist Therapeutics by 1.3% during the 4th quarter. RTW Investments LP now owns 5,498,545 shares of the company's stock worth $212,244,000 after acquiring an additional 72,433 shares during the period. Vanguard Group Inc. lifted its holdings in Protagonist Therapeutics by 1.4% during the first 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 in the last quarter. BVF Inc. IL boosted 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 purchasing an additional 675,000 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Protagonist Therapeutics by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,392,652 shares of the company's stock worth $53,758,000 after purchasing an additional 83,185 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other 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.

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