M&T Bank Corp Acquires New Holdings in Protagonist Therapeutics, Inc. $PTGX

M&T Bank Corp acquired a new stake in Protagonist Therapeutics, Inc. (NASDAQ:PTGX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,207 shares of the company's stock, valued at approximately $979,000.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in Protagonist Therapeutics by 110.6% in the 4th quarter. Farther Finance Advisors LLC now owns 297 shares of the company's stock valued at $26,000 after buying an additional 156 shares during the last quarter. Salomon & Ludwin LLC bought a new position in Protagonist Therapeutics in the 3rd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its holdings in Protagonist Therapeutics by 138.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock valued at $36,000 after buying an additional 314 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Protagonist Therapeutics in the 3rd quarter valued at approximately $62,000. Finally, Canton Hathaway LLC bought a new position in Protagonist Therapeutics in the 4th quarter valued at approximately $87,000. Institutional investors own 98.63% of the company's stock.

Protagonist Therapeutics Trading Up 0.5%

NASDAQ PTGX opened at $98.97 on Friday. The company has a fifty day simple moving average of $98.50 and a 200 day simple moving average of $88.76. Protagonist Therapeutics, Inc. has a 12-month low of $41.28 and a 12-month high of $107.84. The company has a market cap of $6.36 billion, a P/E ratio of -48.28 and a beta of 2.12.

Protagonist Therapeutics (NASDAQ:PTGX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.16). Protagonist Therapeutics had a negative net margin of 282.83% and a negative return on equity of 19.89%. The business had revenue of $7.44 million during the quarter, compared to analyst estimates of $14.92 million. Sell-side analysts predict that Protagonist Therapeutics, Inc. will post 1.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PTGX shares. Johnson Rice reiterated a "buy" rating on shares of Protagonist Therapeutics in a report on Wednesday, March 18th. Leerink Partners raised their price objective on shares of Protagonist Therapeutics from $107.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, March 19th. TD Cowen raised their price objective on shares of Protagonist Therapeutics from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Citizens Jmp raised their price target on shares of Protagonist Therapeutics from $102.00 to $112.00 and gave the stock a "market outperform" rating in a report on Thursday, February 26th. Finally, HC Wainwright raised 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. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Protagonist Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $108.15.

Insiders Place Their Bets

In related news, insider Arturo Md Molina sold 15,000 shares of Protagonist Therapeutics stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $104.79, for a total value of $1,571,850.00. Following the completion of the sale, the insider owned 84,115 shares of the company's stock, valued at approximately $8,814,410.85. This trade represents a 15.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Asif Ali sold 1,750 shares of Protagonist Therapeutics stock in a transaction on Monday, April 20th. The shares were sold at an average price of $105.47, for a total transaction of $184,572.50. Following the completion of the sale, the chief financial officer directly owned 59,003 shares of the company's stock, valued at approximately $6,223,046.41. The trade was a 2.88% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 158,215 shares of company stock worth $15,539,786 in the last quarter. Insiders own 4.90% of the company's stock.

About Protagonist Therapeutics

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 α4β7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn's disease.

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