Protagonist Therapeutics (NASDAQ:PTGX) Reaches New 1-Year High – Here’s What Happened

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $48.60 and last traded at $48.58, with a volume of 64379 shares changing hands. The stock had previously closed at $47.26.

Analyst Ratings Changes

PTGX has been the topic of a number of research analyst reports. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. HC Wainwright upped their price target on shares of Protagonist Therapeutics from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, September 12th. BTIG Research raised their price objective on shares of Protagonist Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Truist Financial started coverage on shares of Protagonist Therapeutics in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price for the company. Finally, TD Cowen raised Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $49.86.

Protagonist Therapeutics Trading Up 2.2 %

The firm’s 50 day simple moving average is $44.52 and its 200-day simple moving average is $36.71. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 18.51 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). The company had revenue of $4.17 million during the quarter, compared to analyst estimates of $40.00 million. As a group, equities research analysts predict that Protagonist Therapeutics, Inc. will post 2.32 earnings per share for the current year.

Insider Transactions at Protagonist Therapeutics

In related news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.00, for a total value of $360,000.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total value of $631,891.47. Following the completion of the sale, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William D. Waddill sold 8,000 shares of Protagonist Therapeutics stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $45.00, for a total value of $360,000.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at $540,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds have recently made changes to their positions in PTGX. GSA Capital Partners LLP raised its stake in Protagonist Therapeutics by 179.8% in the 1st quarter. GSA Capital Partners LLP now owns 55,359 shares of the company’s stock valued at $1,602,000 after acquiring an additional 35,571 shares during the period. Vanguard Group Inc. increased its stake in shares of Protagonist Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,192,971 shares of the company’s stock worth $92,373,000 after purchasing an additional 39,055 shares during the period. Seven Eight Capital LP boosted its stake in Protagonist Therapeutics by 426.9% in the 2nd quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after purchasing an additional 29,810 shares during the period. Bank of New York Mellon Corp grew its holdings in Protagonist Therapeutics by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,299 shares of the company’s stock valued at $7,079,000 after buying an additional 17,065 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new position in Protagonist Therapeutics during the 2nd quarter worth $2,112,000. 98.63% of the stock is owned by institutional investors and hedge funds.

About Protagonist Therapeutics

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.