Director Harold E. Selick of Protagonist Therapeutics, Inc. (NASDAQ: PTGX) completed a set of option and share transactions on March 26, 2026 that together involved 48,000 common shares and totaled several million dollars.
On that date Selick sold 24,000 shares of Protagonist common stock at $105.00 per share, producing gross proceeds of $2.52 million. The sale took place while the stock was trading close to its 52-week high of $105.69, following a reported 100% return over the previous 12 months.
Also on March 26, Selick exercised options to acquire 24,000 shares at an exercise price of $12.88, an exercise that amounted to $309,120 in cash paid to effect the option conversion. Immediately after exercising those options, Selick sold the 24,000 shares obtained through the exercise at $105.00 per share.
After completing the option exercise and the associated sales, Selick is reported to directly hold 60,845 shares of Protagonist Therapeutics common stock.
Market commentary cited in connection with the transactions notes differing perspectives on the shares' valuation. An InvestingPro analysis flagged the stock as appearing overvalued at current levels and pointed readers to an in-depth Pro Research Report for additional context and metrics.
Separately, Protagonist announced that the U.S. Food and Drug Administration has approved Icotyde (icotrokinra) for the treatment of moderate-to-severe plaque psoriasis in patients aged 12 years and older. The approval has prompted several sell-side analysts to raise their price targets for the company.
Clear Street increased its target to $104 and kept a Buy rating. Barclays raised its target to $119 and maintained an Overweight rating, noting that the approval arrived ahead of expectations. Jefferies lifted its target to $121 and characterized Icotyde as a first-in-class therapy. Truist Securities reiterated a Buy rating with a $110 target, describing the approval as a significant milestone as the company moves toward commercialization.
Under the terms of the companies' collaboration, Johnson & Johnson will market Icotyde.
The transactions by Selick, commentary on valuation from InvestingPro, and the recent FDA approval and analyst reactions together underscore a period of active transition for Protagonist, from development-stage operations toward a commercial footing under an external marketing arrangement.