Proteostasis Therapeutics Inc. (PTI) Director Purchases $899,990.00 in Stock
Proteostasis Therapeutics Inc. (NASDAQ:PTI) Director Franklin M. Berger acquired 69,230 shares of the stock in a transaction on Wednesday, September 14th. The shares were purchased at an average cost of $13.00 per share, with a total value of $899,990.00. Following the transaction, the director now directly owns 166,162 shares of the company’s stock, valued at approximately $2,160,106. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Proteostasis Therapeutics Inc. (NASDAQ:PTI) opened at 13.08 on Wednesday. Proteostasis Therapeutics Inc. has a one year low of $5.27 and a one year high of $20.63. The company’s market capitalization is $250.91 million. The stock’s 50 day moving average price is $14.11 and its 200 day moving average price is $12.57.
Proteostasis Therapeutics (NASDAQ:PTI) last released its earnings results on Monday, August 15th. The company reported ($0.47) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. Equities analysts anticipate that Proteostasis Therapeutics Inc. will post ($2.22) EPS for the current fiscal year.
Several equities analysts have commented on the company. Zacks Investment Research raised Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Leerink Swann reissued a “buy” rating and set a $20.00 price objective on shares of Proteostasis Therapeutics in a research report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $17.00.
Several institutional investors have recently added to or reduced their stakes in PTI. Schwab Charles Investment Management Inc. bought a new position in Proteostasis Therapeutics during the second quarter valued at $122,000. Teachers Advisors Inc. bought a new position in Proteostasis Therapeutics during the second quarter valued at $126,000. California State Teachers Retirement System bought a new position in Proteostasis Therapeutics during the second quarter valued at $161,000. BlackRock Fund Advisors bought a new position in Proteostasis Therapeutics during the first quarter valued at $130,000. Finally, Bank of New York Mellon Corp bought a new position in Proteostasis Therapeutics during the second quarter valued at $185,000. 40.02% of the stock is currently owned by hedge funds and other institutional investors.
Proteostasis Therapeutics Company Profile
Proteostasis Therapeutics, Inc is a United States-based biopharmaceutical company developing small molecule therapeutics to treat diseases caused by defects in protein processing. The Company identifies selective drug candidates that modulate the proteostasis imbalance in the cell by combining the Disease-Relevant Translation, DRT platform, which is a phenotypic screening approach based on the use of functionally pertinent cellular assays and disease relevant models.
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