Protagonist Therapeutics (NASDAQ:PTGX) Sees Large Volume Increase

Protagonist Therapeutics Inc (NASDAQ:PTGX) saw strong trading volume on Thursday . 756,776 shares traded hands during mid-day trading, an increase of 284% from the previous session’s volume of 196,942 shares.The stock last traded at $12.56 and had previously closed at $11.85.

A number of research analysts have weighed in on the company. ValuEngine upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research lowered Protagonist Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Nomura restated a “buy” rating and issued a $29.00 price objective on shares of Protagonist Therapeutics in a report on Sunday, August 11th. Svb Leerink restated an “outperform” rating on shares of Protagonist Therapeutics in a report on Tuesday, August 13th. Finally, Stifel Nicolaus upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the company from $11.00 to $17.00 in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Protagonist Therapeutics presently has an average rating of “Buy” and a consensus price target of $19.60.

The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $11.60 and a two-hundred day simple moving average of $10.82. The company has a market cap of $311.42 million, a PE ratio of -7.29 and a beta of 1.87.



Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.90). Protagonist Therapeutics had a negative return on equity of 62.50% and a negative net margin of 209.02%. The company had revenue of ($8.19) million for the quarter, compared to analysts’ expectations of $10.77 million. Equities analysts expect that Protagonist Therapeutics Inc will post -2.65 EPS for the current year.

In other news, CEO Dinesh V. Ph D. Patel sold 10,792 shares of Protagonist Therapeutics stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total transaction of $95,509.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider David Y. Liu sold 3,395 shares of Protagonist Therapeutics stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total value of $30,045.75. The disclosure for this sale can be found here. 14.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PTGX. BlackRock Inc. grew its stake in shares of Protagonist Therapeutics by 8.8% during the 4th quarter. BlackRock Inc. now owns 260,548 shares of the company’s stock worth $1,754,000 after purchasing an additional 21,126 shares during the period. Northern Trust Corp grew its stake in shares of Protagonist Therapeutics by 17.2% during the 4th quarter. Northern Trust Corp now owns 34,624 shares of the company’s stock worth $234,000 after purchasing an additional 5,084 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Protagonist Therapeutics by 33.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 490,267 shares of the company’s stock worth $3,299,000 after purchasing an additional 122,250 shares during the period. Bank of America Corp DE grew its stake in shares of Protagonist Therapeutics by 94.3% during the 4th quarter. Bank of America Corp DE now owns 26,419 shares of the company’s stock worth $178,000 after purchasing an additional 12,819 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Protagonist Therapeutics by 1,675.5% during the 1st quarter. Bank of Montreal Can now owns 11,026 shares of the company’s stock worth $139,000 after purchasing an additional 10,405 shares during the period. Institutional investors and hedge funds own 61.65% of the company’s stock.

About Protagonist Therapeutics (NASDAQ:PTGX)

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.

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