The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Protagonist Therapeutics Inc shares valued at $707,750 were sold by PATEL DINESH V PH D on Apr 01 ’24. At $28.31 per share, PATEL DINESH V PH D sold 25,000 shares. The insider’s holdings dropped to 549,590 shares worth approximately $15.2 million following the completion of this transaction.
Also, PATEL DINESH V PH D sold 30,000 shares, netting a total of over 948,600 in proceeds. Following the sale of shares at $31.62 each, the insider now holds 574,590 shares.
Before that, Ali Asif had sold 14,248 shares from its account. In a trade valued at $459,318, the Chief Financial Officer traded Protagonist Therapeutics Inc shares for $32.24 each. Upon closing the transaction, the insider’s holdings decreased to 14,248 shares, worth approximately $1.06 million.
As published in their initiating research note from CapitalOne on October 30, 2023, Protagonist Therapeutics Inc [PTGX] has been an Overweight and the price target has been revised to $32. As of August 25, 2022, JMP Securities has initiated its “Mkt outperform” rating for PTGX. Earlier on February 11, 2022, BTIG Research initiated its rating. Their recommendation was “a Buy” for PTGX stock.
Analyzing PTGX Stock Performance
During the last five days, there has been a drop of approximately -2.91%. Over the course of the year, Protagonist Therapeutics Inc shares have jumped approximately 20.58%. Shares of the company reached a 52-week high of $33.34 on 03/01/24 and a 52-week low of $21.43 on 01/05/24. A 50-day SMA is recorded $28.16, while a 200-day SMA reached $21.73. Nevertheless, trading volume fell to 0.78 million shares from 0.73 million shares the previous day.
Support And Resistance Levels for Protagonist Therapeutics Inc (PTGX)
According to the 24-hour chart, there is a support level at 27.13, which, if violated, would cause prices to drop to 26.62. In the upper region, resistance lies at 28.58. The next price resistance is at 29.52. RSI (Relative Strength Index) is 43.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.44, which suggests the price will decrease in the coming days. Percent R is at 95.87%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Protagonist Therapeutics Inc subject to short interest?
Stocks of Protagonist Therapeutics Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.64 million shares to 3.42 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.78 million shares. A jump of 18.71% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.59.
