Meenu Chhabra Buys 40,000 Shares of Proteostasis Therapeutics Inc (PTI) Stock

Proteostasis Therapeutics Inc (NASDAQ:PTI) insider Meenu Chhabra purchased 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was bought at an average price of $5.00 per share, with a total value of $200,000.00. Following the transaction, the insider now directly owns 50,218 shares in the company, valued at $251,090. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of Proteostasis Therapeutics Inc (NASDAQ:PTI) traded up $0.31 during trading on Thursday, reaching $5.33. The company had a trading volume of 2,206,400 shares, compared to its average volume of 374,374. Proteostasis Therapeutics Inc has a 1 year low of $1.41 and a 1 year high of $16.67.

Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings data on Tuesday, November 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.16. The firm had revenue of $1.55 million during the quarter, compared to the consensus estimate of $1.38 million. Proteostasis Therapeutics had a negative return on equity of 93.15% and a negative net margin of 712.49%. analysts predict that Proteostasis Therapeutics Inc will post -2.47 earnings per share for the current year.

PTI has been the subject of a number of recent analyst reports. Robert W. Baird increased their price target on Proteostasis Therapeutics from $13.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Leerink Swann increased their price target on Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday, December 12th. Zacks Investment Research lowered Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Proteostasis Therapeutics in a research report on Tuesday.

A number of institutional investors have recently made changes to their positions in PTI. LMR Partners LLP purchased a new stake in Proteostasis Therapeutics in the 2nd quarter worth about $127,000. Goldman Sachs Group Inc. lifted its stake in Proteostasis Therapeutics by 364.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 51,911 shares of the company’s stock worth $243,000 after acquiring an additional 40,731 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Proteostasis Therapeutics in the 2nd quarter worth about $254,000. Dimensional Fund Advisors LP purchased a new stake in Proteostasis Therapeutics in the 2nd quarter worth about $296,000. Finally, Sabby Management LLC lifted its stake in Proteostasis Therapeutics by 109.6% in the 2nd quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock worth $586,000 after acquiring an additional 65,451 shares in the last quarter. 68.03% of the stock is owned by hedge funds and other institutional investors.

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About Proteostasis Therapeutics

Proteostasis Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in discovery and development of therapeutics that treat diseases caused by an imbalance in the proteostasis network, a set of pathways that control protein biosynthesis, folding, trafficking and clearance. It has developed the Disease Relevant Translation (DRT) technology platform, a drug screening approach for identifying highly translatable therapeutics based on predictive and functionally pertinent phenotypic assays and disease relevant models.

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