Protagonist CFO Ali Asif sells $8.3 million in company stock

Ali Asif, Chief Financial Officer of Protagonist Therapeutics, Inc. (NASDAQ:PTGX), sold 58,629 shares of the company’s common stock on September 30, 2026, for a total value of $8,312,293. The shares were sold at prices ranging from $141.77 to $141.78 per share. The sale comes as the stock has declined over 10% in the past week, though shares remain up 66% over the past year. According to InvestingPro analysis, PTGX appears overvalued at current levels, with the platform offering 18 additional ProTips for investors evaluating the $8.84 billion biotech company.

These sales were executed in connection with the exercise of stock options, through which Mr. Ali acquired a total of 58,629 shares of common stock. The options were exercised at prices ranging from $12.17 to $38.98 per share, totaling $1,390,734. All transactions were carried out pursuant to a Rule 10b5-1 trading plan, which Mr. Ali adopted on June 30, 2026.

The exercised options included various vesting schedules. Some options vested in 48 equal monthly installments following January 2, 2025, while others vested in 48 equal monthly installments following January 2, 2024, or January 16, 2023. One block of options was fully vested at the time of the transaction. Following these transactions, Mr. Ali directly holds 59,003 shares of Protagonist Therapeutics common stock.

In other recent news, Protagonist Therapeutics has received several positive developments. The company announced the FDA approval of Mimrylo, also known as rusfertide, for the treatment of erythrocytosis in adults with polycythemia vera. This approval marks Protagonist’s second consecutive regulatory win, following the approval of Icotyde earlier this year. In response to these approvals, BMO Capital raised its price target for Protagonist Therapeutics to $190 while maintaining an Outperform rating. Similarly, H.C. Wainwright adjusted its price target to $170, maintaining a Buy rating after the FDA’s approval of rusfertide.

UBS initiated coverage on Protagonist Therapeutics with a Buy rating, highlighting three potential drivers of outperformance over the next 12 months. Clear Street also reiterated its Buy rating and set a price target of $173, following the FDA approval of Mimrylo. Jefferies echoed this sentiment, maintaining a Buy rating and a $171 price target, citing the strength of the Mimrylo label and its potential for rapid commercial adoption. These recent developments reflect growing confidence among analysts in Protagonist Therapeutics’ market potential.