Protagonist Therapeutics, Inc. (NASDAQ:PTGX) Holdings Raised by TD Asset Management Inc

TD Asset Management Inc grew its stake in shares of Protagonist Therapeutics, Inc. (NASDAQ:PTGX) by 36.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 148,302 shares of the company’s stock after acquiring an additional 39,850 shares during the quarter. TD Asset Management Inc’s holdings in Protagonist Therapeutics were worth $5,139,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Protagonist Therapeutics during the first quarter valued at $35,000. Lazard Asset Management LLC purchased a new stake in shares of Protagonist Therapeutics during the first quarter valued at $69,000. Seven Eight Capital LP purchased a new stake in shares of Protagonist Therapeutics during the first quarter valued at $202,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Protagonist Therapeutics by 74.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 9,083 shares of the company’s stock valued at $263,000 after purchasing an additional 3,870 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Protagonist Therapeutics by 67.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,192 shares of the company’s stock valued at $324,000 after purchasing an additional 4,517 shares during the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.

Protagonist Therapeutics Price Performance

PTGX opened at $44.79 on Thursday. Protagonist Therapeutics, Inc. has a fifty-two week low of $13.72 and a fifty-two week high of $45.15. The business has a 50-day moving average of $39.28 and a 200-day moving average of $32.98. The company has a market capitalization of $2.64 billion, a PE ratio of 18.36 and a beta of 2.17.

Protagonist Therapeutics (NASDAQ:PTGX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). The firm had revenue of $4.17 million for the quarter, compared to analysts’ expectations of $40.00 million. On average, equities research analysts expect that Protagonist Therapeutics, Inc. will post 2.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on PTGX. BTIG Research upped their target price on Protagonist Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com raised Protagonist Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JMP Securities reduced their price objective on Protagonist Therapeutics from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. HC Wainwright increased their price objective on Protagonist Therapeutics from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Truist Financial assumed coverage on Protagonist Therapeutics in a research note on Monday. They issued a “buy” rating and a $60.00 price objective for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Protagonist Therapeutics has a consensus rating of “Buy” and an average target price of $45.67.

Insider Transactions at Protagonist Therapeutics

In other news, Director William D. Waddill sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $320,000.00. Following the completion of the sale, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $480,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.40% of the company’s stock.

About Protagonist Therapeutics

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.