Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali Sells 14,203 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the sale, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at $1,555,370.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock opened at $47.02 on Friday. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 19.27 and a beta of 2.17. The stock’s 50 day simple moving average is $39.76 and its 200 day simple moving average is $33.19. Protagonist Therapeutics, Inc. has a twelve month low of $13.72 and a twelve month high of $47.15.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The firm had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. On average, analysts forecast that Protagonist Therapeutics, Inc. will post 2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Protagonist Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in shares of Protagonist Therapeutics in the first quarter worth about $35,000. Lazard Asset Management LLC acquired a new position in Protagonist Therapeutics in the first quarter worth about $69,000. Point72 DIFC Ltd acquired a new position in shares of Protagonist Therapeutics in the 2nd quarter worth approximately $153,000. Seven Eight Capital LP acquired a new position in Protagonist Therapeutics during the first quarter worth $202,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Protagonist Therapeutics by 74.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock valued at $263,000 after acquiring an additional 3,870 shares during the period. 98.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PTGX has been the subject of a number of analyst reports. JMP Securities reduced their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Truist Financial began coverage on Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company. HC Wainwright raised their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Protagonist Therapeutics presently has a consensus rating of “Buy” and an average target price of $47.33.

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.