Insider Selling: Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells 26,000 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Arturo Md Molina sold 26,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $44.70, for a total value of $1,162,200.00. Following the completion of the sale, the insider now owns 46,444 shares of the company’s stock, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, November 15th, Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock. The stock was sold at an average price of $40.98, for a total value of $78,107.88.

Protagonist Therapeutics Stock Performance

Protagonist Therapeutics stock opened at $44.95 on Thursday. The company has a market capitalization of $2.68 billion, a PE ratio of 16.90 and a beta of 2.17. Protagonist Therapeutics, Inc. has a fifty-two week low of $17.13 and a fifty-two week high of $48.89. The firm has a 50 day moving average price of $45.24 and a 200 day moving average price of $39.62.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PTGX shares. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Truist Financial started coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Wedbush reaffirmed an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Finally, JMP Securities lowered their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics currently has an average rating of “Buy” and a consensus price target of $53.57.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Farallon Capital Management LLC boosted its holdings in Protagonist Therapeutics by 1.8% during the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock valued at $202,383,000 after acquiring an additional 101,800 shares during the period. RTW Investments LP boosted its stake in shares of Protagonist Therapeutics by 2.6% in the third quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock valued at $244,175,000 after purchasing an additional 139,708 shares during the period. Vanguard Group Inc. grew its holdings in shares of Protagonist Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock valued at $92,373,000 after purchasing an additional 39,055 shares in the last quarter. State Street Corp grew its holdings in shares of Protagonist Therapeutics by 52.9% in the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after purchasing an additional 1,101,218 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Protagonist Therapeutics by 405,061.2% during the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock worth $78,034,000 after buying an additional 1,733,662 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.