Dinesh V. Ph D. Patel Sells 78,520 Shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh V. Ph D. Patel sold 78,520 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.96, for a total value of $3,687,299.20. Following the sale, the chief executive officer now directly owns 435,208 shares in the company, valued at $20,437,367.68. This trade represents a 15.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Protagonist Therapeutics Price Performance

Protagonist Therapeutics stock opened at $43.80 on Friday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 16.47 and a beta of 2.17. Protagonist Therapeutics, Inc. has a 1-year low of $17.70 and a 1-year high of $48.89. The company’s 50-day moving average is $45.15 and its 200 day moving average is $39.76.

Institutional Investors Weigh In On Protagonist Therapeutics

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PTGX. Truist Financial assumed coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock. TD Cowen upgraded shares of Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Buy” and an average target price of $53.57.

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.