Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Insider Sells $4,762,239.48 in Stock

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

Protagonist Therapeutics Trading Up 0.3 %

Shares of PTGX opened at $44.95 on Friday. The stock’s 50-day moving average price is $45.22 and its two-hundred day moving average price is $39.66. Protagonist Therapeutics, Inc. has a 12 month low of $17.13 and a 12 month high of $48.89. The company has a market capitalization of $2.68 billion, a PE ratio of 16.90 and a beta of 2.17.

Analyst Ratings Changes

Several research analysts have commented on PTGX shares. JMP Securities lowered their target price on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. StockNews.com raised shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Wedbush reiterated an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $53.57.

Hedge Funds Weigh In On Protagonist Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in PTGX. Russell Investments Group Ltd. bought a new position in Protagonist Therapeutics during the 1st quarter worth approximately $35,000. Vanguard Group Inc. increased its position in shares of Protagonist Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after buying an additional 39,055 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Protagonist Therapeutics by 74.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock worth $263,000 after buying an additional 3,870 shares during the period. Lazard Asset Management LLC bought a new position in Protagonist Therapeutics during the first quarter worth $69,000. Finally, Silvercrest Asset Management Group LLC lifted its holdings in Protagonist Therapeutics by 4.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 188,743 shares of the company’s stock valued at $5,460,000 after buying an additional 8,247 shares during the period. 98.63% of the stock is owned by institutional investors and hedge funds.

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.