Protagonist Therapeutics (NASDAQ:PTGX) Rating Lowered to “Hold” at StockNews.com

Protagonist Therapeutics (NASDAQ:PTGX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other equities research analysts have also weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Protagonist Therapeutics in a report on Tuesday. TD Cowen raised shares of Protagonist Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 25th. BMO Capital Markets began coverage on shares of Protagonist Therapeutics in a report on Friday. They set an “outperform” rating and a $62.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group assumed coverage on Protagonist Therapeutics in a report on Friday. They set a “neutral” rating and a $47.00 price target for the company. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.78.

Protagonist Therapeutics Trading Up 2.7 %

PTGX stock traded up $1.10 during trading on Tuesday, hitting $41.60. The company had a trading volume of 444,708 shares, compared to its average volume of 744,852. The company has a fifty day moving average price of $44.67 and a two-hundred day moving average price of $40.32. Protagonist Therapeutics has a fifty-two week low of $19.00 and a fifty-two week high of $48.89. The company has a market cap of $2.48 billion, a P/E ratio of 15.64 and a beta of 2.18.

Insider Activity

In related news, CEO Dinesh V. Ph D. Patel sold 78,520 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.96, for a total transaction 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 $20,437,367.68. The trade was a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Asif Ali sold 14,203 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.49, for a total transaction of $631,891.47. Following the completion of the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,555,370.40. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 224,066 shares of company stock valued at $10,321,738. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PTGX. GAMMA Investing LLC grew its stake in Protagonist Therapeutics by 749.2% in the third quarter. GAMMA Investing LLC now owns 552 shares of the company’s stock valued at $25,000 after acquiring an additional 487 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Protagonist Therapeutics during the 3rd quarter valued at about $43,000. CWM LLC grew its position in shares of Protagonist Therapeutics by 910.3% in the 3rd quarter. CWM LLC now owns 1,273 shares of the company’s stock valued at $57,000 after purchasing an additional 1,147 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Protagonist Therapeutics during the 3rd quarter worth approximately $69,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Protagonist Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,130 shares of the company’s stock valued at $95,000 after buying an additional 379 shares in the last quarter. Institutional investors own 98.63% of the company’s stock.

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.