Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells $78,107.88 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Arturo Md Molina sold 1,906 shares of Protagonist Therapeutics stock in a transaction on Friday, November 15th. The shares were sold at an average price of $40.98, for a total value of $78,107.88. Following the transaction, the insider now owns 46,444 shares of the company’s stock, valued at $1,903,275.12. The trade was a 3.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Protagonist Therapeutics Trading Up 2.5 %

Shares of PTGX stock opened at $41.65 on Friday. The stock has a market capitalization of $2.48 billion, a P/E ratio of 15.66 and a beta of 2.17. The firm’s 50 day moving average is $45.26 and its 200 day moving average is $39.02. Protagonist Therapeutics, Inc. has a 12-month low of $16.80 and a 12-month high of $48.89.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PTGX. Wedbush restated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday. StockNews.com upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Truist Financial started coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Protagonist Therapeutics from $39.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, JMP Securities decreased their price objective on shares of Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $53.57.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PTGX. Pacer Advisors Inc. increased its position in Protagonist Therapeutics by 405,061.2% during the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock valued at $78,034,000 after acquiring an additional 1,733,662 shares during the last quarter. State Street Corp grew its stake 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 valued at $143,259,000 after purchasing an additional 1,101,218 shares during the period. Millennium Management LLC increased its position in shares of Protagonist Therapeutics by 2,135.6% during the 2nd quarter. Millennium Management LLC now owns 958,283 shares of the company’s stock valued at $33,205,000 after purchasing an additional 915,418 shares during the last quarter. Perceptive Advisors LLC lifted its stake in shares of Protagonist Therapeutics by 27.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,268,735 shares of the company’s stock worth $43,962,000 after purchasing an additional 274,412 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Protagonist Therapeutics by 813.4% in the second quarter. Renaissance Technologies LLC now owns 297,467 shares of the company’s stock worth $10,307,000 after buying an additional 264,900 shares during the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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.