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

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’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.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PTGX. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Protagonist Therapeutics in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price target on Protagonist Therapeutics from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Finally, StockNews.com upgraded Protagonist Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $36.00.

Protagonist Therapeutics Stock Up 3.2 %

The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -17.31 and a beta of 2.09. The stock’s 50-day moving average price is $27.96 and its 200 day moving average price is $23.87.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.39. The firm had revenue of $60.00 million for the quarter, compared to analyst estimates of $60.00 million. On average, research analysts predict that Protagonist Therapeutics, Inc. will post 1.18 EPS for the current year.

Insider Activity at Protagonist Therapeutics

In other news, CFO Asif Ali sold 1,234 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $25.11, for a total value of $30,985.74. Following the sale, the chief financial officer now directly owns 37,163 shares in the company, valued at approximately $933,162.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director William D. Waddill sold 12,975 shares of the stock in a transaction that occurred on 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 directly owns 12,000 shares in the company, valued at approximately $376,080. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 1,234 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $25.11, for a total value of $30,985.74. Following the completion of the transaction, the chief financial officer now directly owns 37,163 shares in the company, valued at approximately $933,162.93. 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 over the last quarter. 5.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PTGX. Braidwell LP bought a new position in Protagonist Therapeutics in the 3rd quarter worth approximately $18,501,000. Kynam Capital Management LP increased its stake in shares of Protagonist Therapeutics by 86.5% in the 3rd quarter. Kynam Capital Management LP now owns 1,818,657 shares of the company’s stock valued at $30,335,000 after buying an additional 843,359 shares during the period. Superstring Capital Management LP bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth $8,694,000. ADAR1 Capital Management LLC acquired a new position in shares of Protagonist Therapeutics during the fourth quarter valued at $4,606,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Protagonist Therapeutics in the third quarter worth about $2,570,000. 98.63% of the stock is owned by 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.