Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Suneel Gupta Sells 103,437 Shares of Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) insider Suneel Gupta sold 103,437 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the sale, the insider now owns 256,174 shares in the company, valued at approximately $11,794,250.96. The trade was a 28.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Protagonist Therapeutics Price Performance

PTGX opened at $44.95 on Thursday. The stock has a market cap of $2.68 billion, a P/E ratio of 16.90 and a beta of 2.17. The firm has a fifty day moving average price of $45.24 and a 200 day moving average price of $39.62. Protagonist Therapeutics, Inc. has a 1 year low of $17.13 and a 1 year high of $48.89.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Protagonist Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after purchasing an additional 379 shares in the last quarter. GAMMA Investing LLC grew its holdings in Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after purchasing an additional 487 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Protagonist Therapeutics in the third quarter valued at approximately $43,000. CWM LLC increased its position in shares of Protagonist Therapeutics by 910.3% in the third quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after buying an additional 1,147 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Protagonist Therapeutics during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PTGX has been the subject of a number of research reports. TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Wedbush reiterated an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. JMP Securities reduced their target price 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. Finally, Truist Financial assumed coverage on shares of Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock. Seven equities 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.com, the company has an average rating of “Buy” and a consensus target price of $53.57.

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.