Protagonist Therapeutics (NASDAQ:PTGX) Hits New 1-Year High – Here’s What Happened

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) shares hit a new 52-week high during trading on Friday . The company traded as high as $49.00 and last traded at $49.00, with a volume of 413 shares trading hands. The stock had previously closed at $47.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PTGX shares. Truist Financial initiated coverage on shares of Protagonist Therapeutics in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Wedbush restated an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research report on Monday. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $53.57.

Protagonist Therapeutics Trading Down 4.1 %

The stock has a 50 day moving average price of $45.47 and a 200 day moving average price of $37.88. The company has a market capitalization of $2.69 billion, a P/E ratio of 18.17 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. On average, research analysts predict that Protagonist Therapeutics, Inc. will post 2.46 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Asif Ali sold 14,203 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the transaction, the chief financial officer now directly owns 34,960 shares of the company’s stock, valued at $1,555,370.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director William D. Waddill sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at approximately $540,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Asif Ali sold 14,203 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the sale, the chief financial officer now owns 34,960 shares of the company’s stock, valued at approximately $1,555,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PTGX. Farallon Capital Management LLC lifted its stake in shares of Protagonist Therapeutics by 1.8% during the 2nd quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock valued at $202,383,000 after buying an additional 101,800 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Protagonist Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after purchasing an additional 39,055 shares during the last quarter. Perceptive Advisors LLC increased its position in shares of Protagonist Therapeutics by 27.6% during the second quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after acquiring an additional 274,412 shares during the period. Millennium Management LLC raised its stake in shares of Protagonist Therapeutics by 2,135.6% during the second quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock valued at $33,205,000 after acquiring an additional 915,418 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Protagonist Therapeutics by 813.4% during the 2nd quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock valued at $10,307,000 after purchasing an additional 264,900 shares in the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

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.