Key Points
- Protagonist Therapeutics CEO Dinesh Ph Patel sold 75,000 shares on May 12 at an average price of $100.12, totaling about $7.5 million. After the sale, he still owned 523,478 shares, reducing his stake by 12.53%.
- The company recently reported stronger-than-expected quarterly results, posting EPS of $0.05 versus analyst estimates of a loss of $0.50, and revenue of $56.37 million versus expectations of $11.70 million.
- Wall Street remains broadly positive on PTGX, with 13 analysts rating it a Buy, one Hold, and one Sell, and a consensus target price of $113.69. The stock was trading near $99.95, close to its recent 50-day average of $100.11.
Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) CEO Dinesh Ph Patel sold 75,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $100.12, for a total value of $7,509,000.00. Following the completion of the transaction, the chief executive officer directly owned 523,478 shares in the company, valued at approximately $52,410,617.36. This represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Protagonist Therapeutics Stock Performance
Shares of Protagonist Therapeutics stock opened at $99.95 on Wednesday. Protagonist Therapeutics, Inc. has a one year low of $43.20 and a one year high of $107.84. The stock has a market cap of $6.43 billion, a P/E ratio of -55.22 and a beta of 1.89. The stock's fifty day moving average is $100.11 and its 200 day moving average is $89.96.
Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.55. The business had revenue of $56.37 million for the quarter, compared to analysts' expectations of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. Analysts predict that Protagonist Therapeutics, Inc. will post 2.32 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PTGX. Farther Finance Advisors LLC grew its position in shares of Protagonist Therapeutics by 110.6% during the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock valued at $26,000 after purchasing an additional 156 shares in the last quarter. Greenline Wealth Management LLC purchased a new position in shares of Protagonist Therapeutics during the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its position in shares of Protagonist Therapeutics by 138.9% during the third quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock valued at $36,000 after purchasing an additional 314 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Protagonist Therapeutics during the third quarter valued at about $62,000. Finally, Osaic Holdings Inc. lifted its holdings in shares of Protagonist Therapeutics by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,185 shares of the company's stock valued at $65,000 after acquiring an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on PTGX shares. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $110.00 price objective on shares of Protagonist Therapeutics in a research note on Wednesday, May 6th. Barclays upped their price objective on Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. Johnson Rice reaffirmed a "buy" rating on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $121.00 price objective on shares of Protagonist Therapeutics in a research note on Wednesday, March 18th. Finally, Citizens Jmp upped their price objective on Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a "market outperform" rating in a research note on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $113.69.
Get Our Latest Stock Report on PTGX
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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