Protagonist Therapeutics (NASDAQ:PTGX) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Protagonist Therapeutics (NASDAQ:PTGX) from a buy rating to a hold rating in a research report report published on Tuesday morning.

A number of other research firms have also weighed in on PTGX. The Goldman Sachs Group initiated coverage on shares of Protagonist Therapeutics in a research note on Friday, December 6th. They issued a “neutral” rating and a $47.00 price objective on the stock. Wedbush reiterated an “outperform” rating and set a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. BMO Capital Markets initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $62.00 target price on the stock. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Truist Financial started coverage on Protagonist Therapeutics in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target for the company. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.78.

Protagonist Therapeutics Trading Up 2.7 %

Shares of NASDAQ:PTGX opened at $41.60 on Tuesday. Protagonist Therapeutics has a twelve month low of $19.00 and a twelve month high of $48.89. The company has a market cap of $2.48 billion, a PE ratio of 15.64 and a beta of 2.18. The company’s 50 day moving average is $44.67 and its 200 day moving average is $40.32.

Insider Buying and Selling

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the completion of the sale, the insider now directly owns 46,444 shares in the company, valued at approximately $2,076,046.80. The trade was a 35.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.96, for a total value of $3,687,299.20. Following the completion of the transaction, the chief executive officer now owns 435,208 shares in the company, valued at approximately $20,437,367.68. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,863 shares of company stock worth $9,689,847 in the last 90 days. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Protagonist Therapeutics

Hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System acquired a new position in Protagonist Therapeutics during the third quarter worth about $1,107,000. Seven Eight Capital LP boosted its holdings in shares of Protagonist Therapeutics by 426.9% during the 2nd quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock worth $1,275,000 after purchasing an additional 29,810 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Protagonist Therapeutics by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock valued at $7,079,000 after purchasing an additional 17,065 shares in the last quarter. Swedbank AB acquired a new stake in shares of Protagonist Therapeutics in the third quarter valued at approximately $2,250,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Protagonist Therapeutics by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock worth $25,448,000 after buying an additional 39,850 shares in the last quarter. 98.63% of the stock is currently 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.