Key Points
- Director William Waddill sold 9,000 shares of Protagonist Therapeutics on June 23 at an average price of $117.94, totaling about $1.06 million. After the sale, he retained 7,825 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- PTGX has been performing strongly, recently trading at $122.63 and sitting near its 52-week high of $126.25. The stock is well above its 50-day and 200-day moving averages, with a market value of about $7.89 billion.
- The company recently reported better-than-expected quarterly results, posting $0.05 EPS versus an expected loss and revenue of $56.37 million versus $11.70 million expected. Analysts remain broadly 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 Protagonist Therapeutics stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $117.94, for a total value of $1,061,460.00. Following the completion of the sale, the director directly owned 7,825 shares in the company, valued at approximately $922,880.50. This represents a 53.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Protagonist Therapeutics Stock Performance
PTGX opened at $122.63 on Friday. The business's 50-day simple moving average is $104.06 and its 200 day simple moving average is $94.99. Protagonist Therapeutics, Inc. has a 52-week low of $49.38 and a 52-week high of $126.25. The firm has a market capitalization of $7.89 billion, a PE ratio of -67.75 and a beta of 1.85.
Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 17.76% and a negative net margin of 154.88%. On average, research analysts forecast that Protagonist Therapeutics, Inc. will post 2.93 earnings per share for the current year.
Institutional Investors Weigh In On Protagonist Therapeutics
A number of large investors have recently added to or reduced their stakes in PTGX. NEXTBio Capital Management LP acquired a new position in Protagonist Therapeutics in the 4th quarter valued at about $20,055,000. Jennison Associates LLC acquired a new stake in Protagonist Therapeutics during the fourth quarter worth approximately $28,924,000. Farallon Capital Management LLC lifted its position in Protagonist Therapeutics by 0.4% during the third 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 last quarter. Mangrove Partners IM LLC boosted its holdings in shares of Protagonist Therapeutics by 21.0% during the third quarter. Mangrove Partners IM LLC now owns 478,413 shares of the company's stock worth $31,781,000 after acquiring an additional 83,030 shares during the period. Finally, Eagle Health Investments LP bought a new stake in shares of Protagonist Therapeutics during the fourth quarter worth approximately $5,005,000. Institutional investors own 98.63% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. Wedbush raised their target price on shares of Protagonist Therapeutics from $112.00 to $118.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. TD Cowen increased their price target on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Citizens Jmp boosted 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 note on Wednesday, May 6th. Truist Financial upped their target price on shares of Protagonist Therapeutics from $110.00 to $121.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Protagonist Therapeutics in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.21.
View Our Latest Analysis on Protagonist Therapeutics
About Protagonist Therapeutics
(
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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