M&T Bank Corp Makes New $979,000 Investment in Protagonist Therapeutics, Inc. $PTGX

M&T Bank Corp acquired a new position in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,207 shares of the company’s stock, valued at approximately $979,000.

A number of other hedge funds have also recently bought and sold shares of PTGX. Royal Bank of Canada boosted its holdings in Protagonist Therapeutics by 30.6% during the 1st quarter. Royal Bank of Canada now owns 9,964 shares of the company’s stock worth $482,000 after acquiring an additional 2,334 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Protagonist Therapeutics by 0.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,403 shares of the company’s stock worth $1,810,000 after acquiring an additional 348 shares during the last quarter. Millennium Management LLC boosted its holdings in Protagonist Therapeutics by 283.6% during the 1st quarter. Millennium Management LLC now owns 134,269 shares of the company’s stock worth $6,493,000 after acquiring an additional 99,269 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Protagonist Therapeutics during the 2nd quarter worth $987,000. Finally, Guggenheim Capital LLC boosted its holdings in Protagonist Therapeutics by 1.6% during the 2nd quarter. Guggenheim Capital LLC now owns 19,208 shares of the company’s stock worth $1,062,000 after acquiring an additional 303 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Harold E. Selick sold 24,000 shares of the business’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $105.00, for a total value of $2,520,000.00. Following the sale, the director directly owned 60,845 shares in the company, valued at approximately $6,388,725. The trade was a 28.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William D. Waddill sold 20,000 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $83.68, for a total value of $1,673,600.00. Following the completion of the sale, the director owned 7,825 shares in the company, valued at $654,796. This represents a 71.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 158,215 shares of company stock worth $15,539,786 in the last ninety days. Corporate insiders own 4.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PTGX shares. Johnson Rice reaffirmed a “buy” rating on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. The Goldman Sachs Group lifted their price objective on shares of Protagonist Therapeutics from $65.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $121.00 price target on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. HC Wainwright boosted their price target on shares of Protagonist Therapeutics from $80.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Barclays boosted their price target on shares of Protagonist Therapeutics from $113.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $108.15.

Protagonist Therapeutics Stock Performance

Shares of NASDAQ:PTGX opened at $98.97 on Friday. The company’s 50-day moving average is $98.50 and its 200 day moving average is $88.76. The company has a market capitalization of $6.36 billion, a P/E ratio of -48.28 and a beta of 2.12. Protagonist Therapeutics, Inc. has a fifty-two week low of $41.28 and a fifty-two week high of $107.84.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.16). The company had revenue of $7.44 million during the quarter, compared to analysts’ expectations of $14.92 million. Protagonist Therapeutics had a negative return on equity of 19.89% and a negative net margin of 282.83%. As a group, research analysts predict that Protagonist Therapeutics, Inc. will post 1.02 earnings per share for the current year.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.