Protagonist Therapeutics (NASDAQ:PTGX) Trading Down 4.4% – What’s Next?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s share price fell 4.4% on Monday . The stock traded as low as $37.75 and last traded at $37.82. 126,738 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 311,539 shares. The stock had previously closed at $39.57.

Analyst Ratings Changes

PTGX has been the topic of several recent research reports. Truist Financial began coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price objective on the stock. StockNews.com downgraded shares of Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Protagonist Therapeutics in a research note on Tuesday, December 10th. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group assumed coverage on shares of Protagonist Therapeutics in a research report on Friday, December 6th. They set a “neutral” rating and a $47.00 target price for the company. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.78.

Protagonist Therapeutics Stock Down 2.7 %

The stock has a fifty day moving average of $42.50 and a 200-day moving average of $41.35. The firm has a market capitalization of $2.29 billion, a P/E ratio of 14.47 and a beta of 2.23.

Insider Buying and Selling at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.96, for a total value of $3,687,299.20. Following the transaction, the chief executive officer now owns 435,208 shares of the company’s stock, valued at approximately $20,437,367.68. This trade represents a 15.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suneel Gupta sold 103,437 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.04, for a total transaction of $4,762,239.48. Following the sale, the insider now directly owns 256,174 shares of the company’s stock, valued at approximately $11,794,250.96. This trade represents a 28.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,863 shares of company stock worth $9,689,847. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Several institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Protagonist Therapeutics by 3,099.4% in the 3rd quarter. Principal Financial Group Inc. now owns 320,832 shares of the company’s stock valued at $14,437,000 after acquiring an additional 310,804 shares in the last quarter. Franklin Resources Inc. grew its stake in Protagonist Therapeutics by 127.2% in the third quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after purchasing an additional 45,674 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $909,000. Geode Capital Management LLC raised its stake in shares of Protagonist Therapeutics by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company’s stock worth $61,873,000 after purchasing an additional 3,528 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Protagonist Therapeutics by 223.6% in the 3rd quarter. Barclays PLC now owns 126,995 shares of the company’s stock valued at $5,714,000 after acquiring an additional 87,755 shares during the period. Institutional investors own 98.63% of the company’s stock.

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.