Protagonist Therapeutics (NASDAQ:PTGX) Trading 8.9% Higher – Time to Buy?

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) shares were up 8.9% during trading on Wednesday . The stock traded as high as $39.98 and last traded at $39.95. Approximately 81,794 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 544,883 shares. The stock had previously closed at $36.67.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets began coverage on Protagonist Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $62.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Protagonist Therapeutics in a research report on Tuesday, December 10th. StockNews.com downgraded Protagonist Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. TD Cowen upgraded Protagonist Therapeutics to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Wedbush reissued an “outperform” rating and set a $58.00 price target on shares of Protagonist Therapeutics in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.78.

Protagonist Therapeutics Stock Up 3.1 %

The company has a market cap of $2.25 billion, a PE ratio of 14.21 and a beta of 2.23. The firm has a fifty day simple moving average of $41.15 and a 200-day simple moving average of $41.67.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, insider Arturo Md Molina sold 26,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $44.70, for a total value of $1,162,200.00. Following the transaction, the insider now directly owns 46,444 shares of the company’s stock, valued at $2,076,046.80. This trade represents a 35.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Suneel Gupta sold 103,437 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.04, for a total value of $4,762,239.48. Following the completion of the transaction, the insider now directly owns 256,174 shares of the company’s stock, valued at $11,794,250.96. This represents a 28.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,863 shares of company stock valued at $9,689,847 over the last three months. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its position in shares of Protagonist Therapeutics by 127.2% during the 3rd quarter. Franklin Resources Inc. now owns 81,591 shares of the company’s stock valued at $3,782,000 after acquiring an additional 45,674 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Protagonist Therapeutics in the 3rd quarter valued at about $1,107,000. Seven Eight Capital LP raised its position in shares of Protagonist Therapeutics by 426.9% during the 2nd quarter. Seven Eight Capital LP now owns 36,793 shares of the company’s stock valued at $1,275,000 after acquiring an additional 29,810 shares during the last quarter. Swedbank AB acquired a new position in shares of Protagonist Therapeutics during the 3rd quarter worth about $2,250,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Protagonist Therapeutics by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 565,503 shares of the company’s stock worth $25,448,000 after acquiring an additional 39,850 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.