Key Points
- Insider sale: Protagonist Therapeutics Director William Waddill sold 9,000 shares at an average price of $99.64, totaling about $896,760. The transaction, made under a pre-arranged Rule 10b5-1 plan, reduced his holdings by more than half.
- Stock performance and valuation: PTGX was down 4.7% and opened at $94.92, trading below its 50-day average of $101.60 but above its 200-day average of $92.18. The company has a market cap of about $6.1 billion and a beta of 1.89.
- Operational and analyst backdrop: The company recently beat quarterly earnings expectations, reporting $0.05 EPS versus an expected loss and revenue of $56.37 million versus $11.70 million expected. Analysts remain generally positive, with a consensus rating of Moderate Buy and a target price of $115.21.
Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Get Free Report) Director William Waddill sold 9,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $99.64, for a total value of $896,760.00. Following the completion of the transaction, the director directly owned 7,825 shares in the company, valued at approximately $779,683. This trade represents a 53.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Protagonist Therapeutics Stock Down 4.7%
NASDAQ:PTGX opened at $94.92 on Tuesday. Protagonist Therapeutics, Inc. has a 12-month low of $47.53 and a 12-month high of $107.84. The stock's fifty day simple moving average is $101.60 and its 200-day simple moving average is $92.18. The firm has a market capitalization of $6.10 billion, a P/E ratio of -52.44 and a beta of 1.89.
Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $11.70 million. Protagonist Therapeutics had a negative return on equity of 17.76% and a negative net margin of 154.88%. As a group, equities research analysts expect that Protagonist Therapeutics, Inc. will post 3.29 earnings per share for the current year.
Analyst Ratings Changes
PTGX has been the topic of several recent analyst reports. Citigroup reiterated an "outperform" rating on shares of Protagonist Therapeutics in a report on Wednesday, May 6th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Protagonist Therapeutics in a report on Friday, May 15th. Citizens Jmp increased their price objective on shares of Protagonist Therapeutics from $120.00 to $137.00 and gave the stock a "market outperform" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on shares of Protagonist Therapeutics from $95.00 to $106.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Finally, Truist Financial boosted their price objective on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.21.
Check Out Our Latest Research Report on Protagonist Therapeutics
Hedge Funds Weigh In On Protagonist Therapeutics
A number of institutional investors have recently bought and sold shares of PTGX. Farther Finance Advisors LLC raised its stake in Protagonist Therapeutics by 110.6% in the fourth quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock valued at $26,000 after buying an additional 156 shares during the period. Greenline Wealth Management LLC bought a new position in shares of Protagonist Therapeutics during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its holdings in shares of Protagonist Therapeutics by 138.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock worth $36,000 after acquiring an additional 314 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth approximately $62,000. Finally, Hantz Financial Services Inc. raised its stake in Protagonist Therapeutics by 222.4% in the 4th quarter. Hantz Financial Services Inc. now owns 951 shares of the company's stock valued at $83,000 after acquiring an additional 656 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.
Further Reading
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