Protagonist Therapeutics (NASDAQ:PTGX) Share Price Passes Below 50-Day Moving Average of $28.56

Protagonist Therapeutics, Inc. (NASDAQ:PTGX)’s share price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $28.56 and traded as low as $25.35. Protagonist Therapeutics shares last traded at $25.57, with a volume of 517,565 shares.

Analyst Ratings Changes

A number of research firms have recently weighed in on PTGX. StockNews.com upgraded shares of Protagonist Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of Protagonist Therapeutics in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Protagonist Therapeutics from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Protagonist Therapeutics has an average rating of “Moderate Buy” and an average price target of $36.00.

Protagonist Therapeutics Trading Up 1.5 %

The stock has a market capitalization of $1.49 billion, a PE ratio of -17.19 and a beta of 2.01. The stock’s fifty day simple moving average is $28.52 and its 200-day simple moving average is $22.91.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.39. The company had revenue of $60.00 million for the quarter, compared to the consensus estimate of $60.00 million. As a group, analysts anticipate that Protagonist Therapeutics, Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Transactions at Protagonist Therapeutics

In other Protagonist Therapeutics news, CFO Asif Ali sold 14,248 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $32.24, for a total transaction of $459,355.52. Following the transaction, the chief financial officer now directly owns 38,397 shares in the company, valued at $1,237,919.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Protagonist Therapeutics news, Director William D. Waddill sold 12,975 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $31.34, for a total transaction of $406,636.50. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at $376,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Asif Ali sold 14,248 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $32.24, for a total value of $459,355.52. Following the transaction, the chief financial officer now directly owns 38,397 shares of the company’s stock, valued at approximately $1,237,919.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,223 shares of company stock valued at $2,522,342. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Protagonist Therapeutics

Large investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Protagonist Therapeutics by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 34,895 shares of the company’s stock worth $1,010,000 after acquiring an additional 849 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Protagonist Therapeutics by 236.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 30,827 shares of the company’s stock worth $892,000 after purchasing an additional 21,673 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Protagonist Therapeutics by 10.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 515,220 shares of the company’s stock worth $11,814,000 after purchasing an additional 48,017 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Protagonist Therapeutics during the 4th quarter worth $454,000. Finally, Virtus ETF Advisers LLC raised its stake in Protagonist Therapeutics by 29.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,457 shares of the company’s stock valued at $102,000 after buying an additional 1,017 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors.

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.