Core Insights - Protagonist Therapeutics, a clinical-stage biotech company, reported significant insider selling by director William D. Waddill, who sold 20,000 shares for approximately $1.7 million, despite the company's strong stock performance [1][2]. Company Overview - Protagonist Therapeutics focuses on peptide therapeutics to address unmet medical needs in hematology and immunology, particularly for patients with rare blood disorders and inflammatory diseases [5]. - As of February 14, 2026, the company's stock price was $81.49, with a market capitalization of $5.09 billion, revenue of $209.22 million, and net income of $45.91 million [4]. Transaction Details - The sale of 20,000 shares is five times larger than Waddill's recent median sell transaction of 4,000 shares, indicating a significant move [7]. - The transaction occurred when the stock was priced at $83.68, reflecting a 123.8% increase over the previous twelve months [7][8]. Market Context - Protagonist highlighted its projected growth at the J.P. Morgan Healthcare Conference, with two key pharmaceutical products in advanced clinical development, supported by major firms like Johnson & Johnson [8]. - Despite the insider selling, Wall Street analysts predominantly rate Protagonist's stock as a "strong buy," with a high price-to-earnings ratio of 113.15, suggesting strong growth expectations [6].

Core Viewpoint - The Nasdaq Composite Index experienced significant volatility, marking its largest intraday swing since 2008, closing 0.1% higher after a dramatic fluctuation from a 5.2% loss to a 4.5% gain [1] Group 1: Market Movements - The Fidelity Nasdaq Composite Index ETF (ONEQ) also exhibited substantial volatility, with swings of 10% within a single day, ultimately closing 0.1% lower [2] - A brief surge of $2.5 trillion in U.S. stock markets was triggered by rumors of a 90-day pause in tariffs, although this rally lasted only seven minutes [3] - Bargain hunters capitalized on the decline in stock prices, particularly after the Nasdaq entered a bear market, with seasoned investors finding opportunities in discounted stocks [4] Group 2: Key Stocks - Rhythm Pharmaceuticals Inc. (RYTM) saw a stock increase of 17.1% and has an estimated earnings growth rate of 41.9% for the year [9] - Golden Ocean Group Limited (GOGL) experienced an 11.9% stock jump and has an estimated earnings growth rate of 4.9% for the year [10] - Rigetti Computing Inc. (RGTI) gained approximately 11% and has an estimated earnings growth rate of 44.1% for the year [11] - Super Micro Computer Inc. (SMCI) increased by 10.7% and has an estimated earnings growth rate of 15.4% for the fiscal year ending June 2025 [11] - Garrett Motion Inc. (GTX) rose about 10% and reported an earnings surprise of 26.18% over the last four quarters [12] Group 3: Economic Outlook - Despite a slowdown in the AI boom, U.S. tech spending is projected to grow by 6.1% to reach $2.7 trillion, supported by anticipated Fed rate cuts [6] - Traders have increased bets on five Fed cuts this year, with the likelihood of a cut in May now exceeding 50%, which could lower borrowing costs and enhance business profitability [7] Group 4: ETF Overview - The Fidelity Nasdaq Composite Index ETF (ONEQ) holds 906 stocks, with a significant concentration in the top 10 holdings, and has an AUM of $6.1 billion [8] - Information technology constitutes 48% of ONEQ's portfolio, followed by consumer services at 15.5%, consumer discretionary at 15%, and healthcare at 6.3% [8]