Toronto Dominion Bank Makes New $13.16 Million Investment in Protagonist Therapeutics, Inc. (NASDAQ:PTGX)

Toronto Dominion Bank acquired a new position in Protagonist Therapeutics, Inc. (NASDAQ:PTGX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 340,974 shares of the company’s stock, valued at approximately $13,162,000. Toronto Dominion Bank owned approximately 0.57% of Protagonist Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Barclays PLC grew its stake in shares of Protagonist Therapeutics by 223.6% in the third quarter. Barclays PLC now owns 126,995 shares of the company’s stock valued at $5,714,000 after buying an additional 87,755 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Protagonist Therapeutics in the 4th quarter worth approximately $2,016,000. Nisa Investment Advisors LLC grew its position in Protagonist Therapeutics by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,133 shares of the company’s stock valued at $121,000 after acquiring an additional 295 shares in the last quarter. KBC Group NV raised its stake in shares of Protagonist Therapeutics by 54.4% during the fourth quarter. KBC Group NV now owns 2,093 shares of the company’s stock valued at $81,000 after purchasing an additional 737 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Protagonist Therapeutics by 8.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,876,466 shares of the company’s stock valued at $72,432,000 after purchasing an additional 142,376 shares during the period. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Insider Activity at Protagonist Therapeutics

In related news, Director William D. Waddill sold 4,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the sale, the director now owns 13,130 shares of the company’s stock, valued at $712,302.50. This represents a 23.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arturo Md Molina sold 30,514 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $55.74, for a total transaction of $1,700,850.36. Following the completion of the transaction, the insider now directly owns 83,892 shares in the company, valued at $4,676,140.08. This represents a 26.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,173 shares of company stock valued at $3,461,180. Corporate insiders own 4.90% of the company’s stock.

Analysts Set New Price Targets

PTGX has been the subject of several analyst reports. Truist Financial upped their target price on shares of Protagonist Therapeutics from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Wedbush reiterated an “outperform” rating and issued a $70.00 price objective on shares of Protagonist Therapeutics in a report on Friday, March 28th. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Protagonist Therapeutics in a research note on Monday. The Goldman Sachs Group dropped their target price on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Finally, BMO Capital Markets increased their price target on Protagonist Therapeutics from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $65.44.

Protagonist Therapeutics Stock Performance

Shares of PTGX stock opened at $46.61 on Wednesday. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 17.52 and a beta of 2.65. Protagonist Therapeutics, Inc. has a one year low of $27.00 and a one year high of $60.60. The company’s 50-day simple moving average is $46.36 and its 200-day simple moving average is $42.59.

Protagonist Therapeutics (NASDAQ:PTGX) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.31. The firm had revenue of $28.32 million for the quarter, compared to analysts’ expectations of $30.44 million. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. As a group, research analysts forecast that Protagonist Therapeutics, Inc. will post 2.43 EPS for the current year.

Protagonist Therapeutics Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.