Protagonist Therapeutics reported that Arturo Molina MD, the company's Chief Medical Officer, completed a series of equity transactions late in January 2026. Molina sold a total of 23,151 shares of common stock on January 23, January 26, and January 27, 2026. The sales generated approximately $1.9 million, with reported sale prices ranging from $82.0 to $82.42 per share.
Separately, Molina exercised stock options to acquire 10,000 shares at an exercise price of $8.04 per share. The option exercises occurred on January 26 and January 27, and the filing records the aggregate value of those exercises as $80,399.
The transactions were documented in a Form 4 filed with the Securities and Exchange Commission. Following the sales and option exercises, Molina is reported to directly own 84,115 shares of Protagonist Therapeutics.
These insider moves coincide with a wave of analyst coverage and revised price targets for Protagonist Therapeutics. Several investment firms reiterated or raised their ratings and targets while citing upcoming milestones and recent clinical data.
Truist Securities raised its price target for the company to $110 and kept a Buy rating, noting that 2026 is viewed as a pivotal year with anticipated regulatory milestones for icotrokinra and rusfertide. JPMorgan reaffirmed an Overweight rating with a $93 price target, pointing to the expected launch of Icotyde and the potential royalty stream from that product as meaningful valuation drivers.
Citizens retained a Market Outperform rating and a $102 target after positive VERIFY trial results for rusfertide, which the firm said demonstrated significant efficacy in treating polycythemia vera. Jefferies maintained a Buy rating with a $95 price target, citing growth potential tied to two partnered programs approaching regulatory approval.
Clear Street also increased its price target to $91, emphasizing a higher projected peak penetration for rusfertide in polycythemia vera owing to the product’s self-administration convenience. Collectively, these analyst actions reflect a broadly positive reception from several investment firms as the company advances key programs.
While the Form 4 provides the definitive record of Molina’s transactions, the filing does not include commentary from the executive or the company about the sales and option exercises.