Transaction overview
Dinesh V. Patel, President and Chief Executive Officer of Protagonist Therapeutics, Inc., executed a block of common stock sales totaling 48,205 shares over the period from January 23 to January 27, 2026. According to a Form 4 filing with the Securities and Exchange Commission, the sales produced approximately $4,063,743 in proceeds, with executed prices ranging between $83.19 and $84.59 per share.
Option exercises and donation
The filing also documents that Patel exercised stock options to acquire 48,273 shares of Protagonist Therapeutics common stock. The exercises were carried out at option prices spanning $4.21 to $21.58, with the aggregate option exercise amount recorded at $520,631. In addition, Patel donated 6,000 shares on January 23; that gift is reported in the filing with a stated valuation of $0.
Post-transaction ownership
Following the suite of transactions noted in the Form 4, Patel's direct holdings in Protagonist Therapeutics stand at 574,505 shares of common stock.
Analyst activity and near-term company focus
Protagonist Therapeutics has recently seen a series of analyst updates. Truist Securities raised its price objective to $110 and kept a Buy rating, highlighting 2026 as potentially pivotal because of anticipated approvals for icotrokinra in psoriasis and regulatory reviews for rusfertide. JPMorgan reiterated an Overweight rating with a $93 target, calling attention to the planned launch of Icotyde and the potential for a royalty stream. Citizens preserved a Market Outperform stance with a $102 price target after favorable VERIFY trial results that reportedly showed meaningful improvements for rusfertide. Jefferies maintained a Buy rating and set a $95 price objective, pointing to the pipeline's potential and pending regulatory decisions. Clear Street raised its target to $91, noting an increased peak penetration estimate for rusfertide in polycythemia vera tied to its self-administration potential.
Collectively, these analyst notes underscore heightened market focus on the company's development and regulatory timetable as it advances multiple programs through key milestones in 2026.
Takeaway
The Form 4 filing lays out a mix of insider selling, option exercises and a donation by the CEO that leaves him with a substantial direct stake, while external analyst coverage emphasizes several upcoming product and regulatory events that investors are watching closely.