Asif Ali Sells 24,903 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CFO Asif Ali sold 24,903 shares of Protagonist Therapeutics stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $58.73, for a total value of $1,462,553.19. Following the completion of the sale, the chief financial officer now owns 62,821 shares of the company’s stock, valued at $3,689,477.33. The trade was a 28.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Protagonist Therapeutics Stock Down 0.2 %

Shares of NASDAQ PTGX opened at $54.78 on Friday. The business’s 50 day moving average price is $39.63 and its 200 day moving average price is $42.24. The firm has a market cap of $3.36 billion, a P/E ratio of 20.59 and a beta of 2.34. Protagonist Therapeutics, Inc. has a 52 week low of $24.22 and a 52 week high of $60.60.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Friday, February 21st. The company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The firm had revenue of $170.64 million for the quarter, compared to analyst estimates of $56.65 million. As a group, research analysts expect that Protagonist Therapeutics, Inc. will post 2.43 earnings per share for the current year.

Institutional Investors Weigh In On Protagonist Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can boosted its position in Protagonist Therapeutics by 4.5% in the 4th quarter. Bank of Montreal Can now owns 6,250 shares of the company’s stock worth $241,000 after purchasing an additional 270 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in Protagonist Therapeutics by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 20,170 shares of the company’s stock worth $779,000 after purchasing an additional 278 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Protagonist Therapeutics by 10.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock worth $121,000 after purchasing an additional 295 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Protagonist Therapeutics by 1.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the company’s stock worth $1,112,000 after purchasing an additional 300 shares in the last quarter. Finally, KBC Group NV boosted its position in Protagonist Therapeutics by 54.4% in the 4th quarter. KBC Group NV now owns 2,093 shares of the company’s stock worth $81,000 after purchasing an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial boosted their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. JMP Securities restated a “market outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research note on Friday, February 7th. StockNews.com lowered Protagonist Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. HC Wainwright restated a “buy” rating and set a $54.00 price target on shares of Protagonist Therapeutics in a research note on Monday, March 10th. Finally, BTIG Research set a $73.00 price target on Protagonist Therapeutics in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $61.22.

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.