Protagonist Therapeutics (NASDAQ:PTGX) Trading 6.4% Higher

Protagonist Therapeutics Inc (NASDAQ:PTGX)’s share price traded up 6.4% during trading on Monday . The company traded as high as $16.66 and last traded at $16.56, 398,863 shares traded hands during mid-day trading. An increase of 96% from the average session volume of 203,924 shares. The stock had previously closed at $15.56.

PTGX has been the subject of several recent research reports. Zacks Investment Research downgraded Protagonist Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. HC Wainwright set a $23.00 target price on shares of Protagonist Therapeutics and gave the stock a “buy” rating in a report on Friday, August 2nd. Nomura reaffirmed a “buy” rating and issued a $29.00 target price on shares of Protagonist Therapeutics in a research note on Sunday, August 11th. Svb Leerink reaffirmed an “outperform” rating on shares of Protagonist Therapeutics in a research note on Tuesday, August 13th. Finally, BidaskClub upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Protagonist Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $19.60.

The company has a debt-to-equity ratio of 0.08, a current ratio of 4.12 and a quick ratio of 4.12. The company has a market capitalization of $435.20 million, a P/E ratio of -8.14 and a beta of 1.74. The company has a 50 day moving average of $11.91 and a 200-day moving average of $11.43.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.90). Protagonist Therapeutics had a negative net margin of 209.02% and a negative return on equity of 62.50%. The business had revenue of ($8.19) million for the quarter, compared to analysts’ expectations of $10.77 million. Research analysts predict that Protagonist Therapeutics Inc will post -2.65 EPS for the current fiscal year.

In other news, insider David Y. Liu sold 3,395 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total transaction of $30,045.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dinesh V. Ph D. Patel sold 10,792 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total value of $95,509.20. The disclosure for this sale can be found here. 14.20% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in PTGX. Wells Fargo & Company MN raised its holdings in Protagonist Therapeutics by 25.9% in the 2nd quarter. Wells Fargo & Company MN now owns 20,553 shares of the company’s stock worth $248,000 after purchasing an additional 4,224 shares in the last quarter. Algert Global LLC boosted its stake in shares of Protagonist Therapeutics by 48.0% during the 2nd quarter. Algert Global LLC now owns 15,517 shares of the company’s stock valued at $188,000 after purchasing an additional 5,030 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Protagonist Therapeutics by 63.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 19,486 shares of the company’s stock valued at $236,000 after purchasing an additional 7,586 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Protagonist Therapeutics by 1,675.5% during the 1st quarter. Bank of Montreal Can now owns 11,026 shares of the company’s stock valued at $139,000 after purchasing an additional 10,405 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Protagonist Therapeutics by 94.3% during the fourth quarter. Bank of America Corp DE now owns 26,419 shares of the company’s stock valued at $178,000 after buying an additional 12,819 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Protagonist Therapeutics Company Profile (NASDAQ:PTGX)

Protagonist Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops peptide-based product candidates to address unmet medical needs in hematology and gastroenterology. The company is developing PTG-300, an injectable hepcidin mimetic that is in Phase II clinical trial for the treatment of patients with beta-thalassemia by targeting the chronic anemia; PTG-200, an antagonist peptide product candidate, which has completed Phase I clinical trial to treat inflammatory bowel disease (IBD); and PN-943, an oral, alpha-4-beta-7 specific integrin antagonist that is in Phase I clinical trial for treating IBD.

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