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 the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $58.73, for a total value of $1,462,553.19. Following the transaction, the chief financial officer now directly owns 62,821 shares of the company’s stock, valued at approximately $3,689,477.33. The trade was a 28.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Protagonist Therapeutics Stock Down 0.2 %

Shares of PTGX opened at $54.78 on Friday. Protagonist Therapeutics, Inc. has a 52-week low of $24.22 and a 52-week high of $60.60. The company has a market capitalization of $3.36 billion, a PE ratio of 20.59 and a beta of 2.34. The stock has a fifty day simple moving average of $39.63 and a two-hundred day simple moving average of $42.24.

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

Hedge Funds Weigh In On Protagonist Therapeutics

A number of hedge funds have recently modified their holdings of PTGX. Pacer Advisors Inc. grew its holdings in shares of 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 purchasing an additional 1,733,662 shares during the period. State Street Corp grew its holdings in shares of Protagonist Therapeutics by 52.9% during the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after purchasing an additional 1,101,218 shares during the period. Deep Track Capital LP purchased a new position in shares of Protagonist Therapeutics during the 4th quarter worth $38,600,000. Wellington Management Group LLP grew its holdings in shares of Protagonist Therapeutics by 3,025.4% during the 4th quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock worth $36,287,000 after purchasing an additional 909,998 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Protagonist Therapeutics by 61.5% during the 4th quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock worth $35,832,000 after purchasing an additional 353,511 shares during the period. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PTGX has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $54.00 target price on shares of Protagonist Therapeutics in a research note on Monday, March 10th. BMO Capital Markets increased their price objective on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. BTIG Research set a $73.00 price objective on Protagonist Therapeutics in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on Protagonist Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Finally, Wedbush reissued an “outperform” rating on shares of Protagonist Therapeutics in a research note on Tuesday. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.22.

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.