Key Points
- Director Lewis Williams sold 18,000 shares on February 17 at an average price of $82.42 for proceeds of about $1.48 million, cutting his stake by 69.7% to 7,825 shares.
- The stock carries a MarketBeat consensus of a "Moderate Buy" with an average target of $93.38, while several analysts raised targets (e.g., HC Wainwright to $117 and Truist to $110) even as Weiss Ratings downgraded the name to a sell.
- Institutions own about 98.63% of PTGX, with Wellington Management notably boosting its position to roughly 3.17 million shares (≈$277 million).
Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) Director Lewis Williams sold 18,000 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $82.42, for a total value of $1,483,560.00. Following the completion of the sale, the director directly owned 7,825 shares of the company's stock, valued at approximately $644,936.50. The trade was a 69.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Protagonist Therapeutics Stock Performance
Shares of PTGX opened at $82.99 on Thursday. The firm has a market cap of $5.19 billion, a PE ratio of 133.86 and a beta of 2.26. The firm's 50 day moving average price is $84.80 and its 200 day moving average price is $75.37. Protagonist Therapeutics, Inc. has a twelve month low of $33.70 and a twelve month high of $96.54.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on PTGX shares. Weiss Ratings lowered Protagonist Therapeutics from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. HC Wainwright raised their price objective on Protagonist Therapeutics from $80.00 to $117.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Truist Financial upped their target price on Protagonist Therapeutics from $88.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, January 5th. JPMorgan Chase & Co. increased their price target on Protagonist Therapeutics from $68.00 to $81.00 and gave the company an "overweight" rating in a report on Friday, November 7th. Finally, Wedbush lifted their price target on shares of Protagonist Therapeutics from $70.00 to $86.00 and gave the company an "outperform" rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $93.38.
Read Our Latest Stock Analysis on Protagonist Therapeutics
Institutional Trading of Protagonist Therapeutics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTGX. KVP Capital Advisors LP bought a new position in Protagonist Therapeutics in the 4th quarter worth approximately $4,629,000. Virtus Investment Advisers LLC boosted its position in shares of Protagonist Therapeutics by 38.1% in the fourth quarter. Virtus Investment Advisers LLC now owns 2,790 shares of the company's stock valued at $244,000 after acquiring an additional 770 shares during the period. Wellington Management Group LLP grew its stake in shares of Protagonist Therapeutics by 66.2% in the fourth quarter. Wellington Management Group LLP now owns 3,171,423 shares of the company's stock worth $276,992,000 after acquiring an additional 1,262,977 shares during the last quarter. SummitTX Capital L.P. grew its stake in shares of Protagonist Therapeutics by 34.2% in the fourth quarter. SummitTX Capital L.P. now owns 42,266 shares of the company's stock worth $3,692,000 after acquiring an additional 10,776 shares during the last quarter. Finally, Orbimed Advisors LLC bought a new position in Protagonist Therapeutics during the fourth quarter worth $1,895,000. 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.
Further Reading
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