Protagonist Therapeutics CEO Patel sells $2.88 million in shares

Protagonist Therapeutics, Inc. (NASDAQ:PTGX), a $3.36 billion biotech company with a "GREAT" financial health score according to InvestingPro, saw its President and CEO Dinesh V. Patel, Ph.D., sell a total of 52,444 shares of common stock between July 21 and July 23, 2025, for approximately $2.88 million. The sales occurred in a price range of $54.79 to $55.05 per share, near the stock’s current trading price of $54.19.

According to a Form 4 filing with the Securities and Exchange Commission, the transactions included the sale of 12,859 shares on July 21 at a price of $54.86 per share. On July 22, Patel sold 22,065 shares, with prices ranging from $55.00 to $55.19. A further 17,520 shares were sold on July 23, in a price range of $54.75 to $55.00. These transactions come amid the stock’s impressive 43% surge over the past six months. For comprehensive insider trading analysis and 16 additional key insights, check out the detailed Pro Research Report available on InvestingPro.

The filing also indicated that Patel acquired 25,000 shares of Protagonist Therapeutics common stock on July 21 as a result of the settlement of performance stock units (PSUs) granted on February 26, 2021, which vested based on the company’s achievement of certain corporate performance objectives. These shares were acquired at no cost. The sale of shares on July 21 was to cover tax obligations incurred upon settlement of PSUs.

Following these transactions, Patel directly owns 531,018 shares of Protagonist Therapeutics.

In other recent news, Protagonist Therapeutics has received significant attention from several analyst firms regarding its drug development efforts. H.C. Wainwright reaffirmed its Buy rating with an $80.00 price target, emphasizing the promising results from the Phase 3 VERIFY study of rusfertide for polycythemia vera (PV). The study’s findings have been well-received, with experts suggesting rusfertide could become a standard treatment for PV. Citi also initiated coverage with a Buy rating and a $72.00 price target, highlighting the strong potential of Protagonist’s drug candidates, particularly rusfertide and icotrokinra. Meanwhile, Clear Street adjusted its price target to $62 from $65 but maintained a Buy rating, citing enthusiasm for rusfertide’s role in managing PV. Additionally, BTIG reiterated its Buy rating and an $82.00 price target, following the presentation of data that reinforced rusfertide’s efficacy in PV treatment. These developments underscore the growing confidence in Protagonist Therapeutics’ strategic approach and drug pipeline.

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