Protagonist Therapeutics (NASDAQ:PTGX) Stock Price Down 4.4% – Time to Sell?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) was down 4.4% during mid-day trading on Monday . The stock traded as low as $37.75 and last traded at $37.82. Approximately 126,738 shares were traded during trading, a decline of 59% from the average daily volume of 311,539 shares. The stock had previously closed at $39.57.

Wall Street Analyst Weigh In

PTGX has been the topic of a number of recent analyst reports. The Goldman Sachs Group began coverage on shares of Protagonist Therapeutics in a report on Friday, December 6th. They set a “neutral” rating and a $47.00 price target on the stock. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Wedbush reissued an “outperform” rating and issued a $58.00 price objective on shares of Protagonist Therapeutics in a research note on Tuesday, November 19th. Finally, BMO Capital Markets initiated coverage on Protagonist Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $62.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Protagonist Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $53.78.

Protagonist Therapeutics Stock Down 2.2 %

The business has a 50-day simple moving average of $42.09 and a 200-day simple moving average of $41.50. The stock has a market cap of $2.24 billion, a P/E ratio of 14.14 and a beta of 2.23.

Insider Activity at Protagonist Therapeutics

In other news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.96, for a total value of $3,687,299.20. Following the completion of the sale, the chief executive officer now directly owns 435,208 shares of the company’s stock, valued at approximately $20,437,367.68. This represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Arturo Md Molina sold 26,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total transaction of $1,162,200.00. Following the transaction, the insider now directly owns 46,444 shares in the company, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,863 shares of company stock worth $9,689,847. 5.40% of the stock is owned by insiders.

Institutional Trading of Protagonist Therapeutics

A number of hedge funds have recently modified their holdings of the company. Farallon Capital Management LLC raised its stake in shares of Protagonist Therapeutics by 1.8% in the second quarter. Farallon Capital Management LLC now owns 5,840,773 shares of the company’s stock valued at $202,383,000 after purchasing an additional 101,800 shares in the last quarter. RTW Investments LP grew its position in Protagonist Therapeutics by 2.6% in the third quarter. RTW Investments LP now owns 5,426,112 shares of the company’s stock valued at $244,175,000 after acquiring an additional 139,708 shares during the period. State Street Corp raised its stake in Protagonist Therapeutics by 52.9% during the third quarter. State Street Corp now owns 3,183,542 shares of the company’s stock worth $143,259,000 after acquiring an additional 1,101,218 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Protagonist Therapeutics by 405,061.2% during the third quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock valued at $78,034,000 after acquiring an additional 1,733,662 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Protagonist Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,374,697 shares of the company’s stock valued at $61,873,000 after purchasing an additional 3,528 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

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.