Proteostasis Therapeutics (PTI) Trading 6.2% Higher

Proteostasis Therapeutics Inc (NASDAQ:PTI) shares traded up 6.2% during mid-day trading on Thursday . The stock traded as high as $5.50 and last traded at $5.33. 2,206,400 shares traded hands during mid-day trading, an increase of 489% from the average session volume of 374,374 shares. The stock had previously closed at $5.02.

Several research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Proteostasis Therapeutics in a research report on Tuesday. Leerink Swann increased their price target on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday, December 12th. Robert W. Baird increased their price target on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Finally, Zacks Investment Research lowered shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th.

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

In other news, major shareholder Enterprise Associates 12 New acquired 2,000,000 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was bought at an average price of $5.00 per share, with a total value of $10,000,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Meenu Chhabra acquired 40,000 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were purchased at an average cost of $5.00 per share, with a total value of $200,000.00. Following the acquisition, the insider now owns 50,218 shares of the company’s stock, valued at approximately $251,090. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 2,100,000 shares of company stock valued at $10,500,000. Company insiders own 17.40% of the company’s stock.

Several institutional investors have recently modified their holdings of PTI. LMR Partners LLP acquired a new stake in shares of Proteostasis Therapeutics in the second quarter valued at approximately $127,000. Jennison Associates LLC increased its holdings in shares of Proteostasis Therapeutics by 6.2% in the second quarter. Jennison Associates LLC now owns 2,075,439 shares of the company’s stock valued at $9,713,000 after purchasing an additional 120,575 shares in the last quarter. FMR LLC increased its holdings in shares of Proteostasis Therapeutics by 2.3% in the second quarter. FMR LLC now owns 2,944,915 shares of the company’s stock valued at $13,782,000 after purchasing an additional 66,111 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Proteostasis Therapeutics in the second quarter valued at approximately $296,000. Finally, Bain Capital Public Equity Management LLC acquired a new stake in shares of Proteostasis Therapeutics in the second quarter valued at approximately $1,233,000. 68.03% of the stock is owned by institutional investors and hedge funds.

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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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