Insider Selling: Protagonist Therapeutics (NASDAQ:PTGX) Director Sells 36,000 Shares of Stock

by · The Cerbat Gem

Protagonist Therapeutics, Inc. (NASDAQ:PTGX – Get Free Report) Director Bryan Giraudo sold 36,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $100.14, for a total value of $3,605,040.00. Following the sale, the director owned 27,825 shares in the company, valued at approximately $2,786,395.50. This trade represents a 56.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Bryan Giraudo also recently made the following trade(s):

  • On Friday, May 8th, Bryan Giraudo sold 6,000 shares of Protagonist Therapeutics stock. The shares were sold at an average price of $100.00, for a total value of $600,000.00.
  • On Friday, May 8th, Bryan Giraudo sold 5,130 shares of Protagonist Therapeutics stock. The shares were sold at an average price of $100.00, for a total transaction of $513,000.00.
  • On Thursday, May 7th, Bryan Giraudo sold 12,000 shares of Protagonist Therapeutics stock. The stock was sold at an average price of $100.07, for a total transaction of $1,200,840.00.

Protagonist Therapeutics Trading Up 4.2%

PTGX traded up $4.14 during trading on Monday, reaching $103.50. 572,030 shares of the company’s stock were exchanged, compared to its average volume of 669,567. Protagonist Therapeutics, Inc. has a one year low of $43.20 and a one year high of $107.84. The stock has a market capitalization of $6.66 billion, a PE ratio of -57.18 and a beta of 1.89. The firm has a fifty day moving average price of $99.95 and a two-hundred day moving average price of $89.78.

Protagonist Therapeutics (NASDAQ:PTGX – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.55. The firm had revenue of $56.37 million during the quarter, compared to the consensus estimate of $11.70 million. Protagonist Therapeutics had a negative net margin of 154.88% and a negative return on equity of 17.76%. Sell-side analysts expect that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on PTGX shares. Barclays raised their target price on Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $95.00 to $106.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. HC Wainwright raised their price objective on Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. TD Cowen lifted their price objective on Protagonist Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $121.00 target price on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $113.69.

Check Out Our Latest Research Report on Protagonist Therapeutics

Hedge Funds Weigh In On Protagonist Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Farallon Capital Management LLC grew its holdings in Protagonist Therapeutics by 0.4% during the 3rd quarter. Farallon Capital Management LLC now owns 6,196,006 shares of the company’s stock worth $411,601,000 after acquiring an additional 24,000 shares during the period. Vanguard Group Inc. lifted its stake in shares of Protagonist Therapeutics by 27.2% in the 4th quarter. Vanguard Group Inc. now owns 5,413,690 shares of the company’s stock valued at $472,832,000 after purchasing an additional 1,156,461 shares during the period. State Street Corp boosted its position in shares of Protagonist Therapeutics by 18.5% during the 2nd quarter. State Street Corp now owns 3,207,543 shares of the company’s stock valued at $177,281,000 after purchasing an additional 500,924 shares in the last quarter. Wellington Management Group LLP grew its stake in Protagonist Therapeutics by 66.2% during the fourth quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company’s stock worth $276,992,000 after purchasing an additional 1,262,977 shares during the period. Finally, UBS Group AG grew its stake in Protagonist Therapeutics by 46.1% during the fourth quarter. UBS Group AG now owns 2,770,021 shares of the company’s stock worth $241,934,000 after purchasing an additional 874,013 shares during the period. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

(Get Free Report)

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.

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