$1.58 Million in Sales Expected for Proteostasis Therapeutics Inc (PTI) This Quarter
Equities analysts expect that Proteostasis Therapeutics Inc (NASDAQ:PTI) will report sales of $1.58 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Proteostasis Therapeutics’ earnings, with the lowest sales estimate coming in at $1.55 million and the highest estimate coming in at $1.60 million. Proteostasis Therapeutics reported sales of $4.06 million during the same quarter last year, which would suggest a negative year over year growth rate of 61.1%. The firm is scheduled to report its next earnings results on Thursday, March 29th.
According to Zacks, analysts expect that Proteostasis Therapeutics will report full year sales of $1.58 million for the current year, with estimates ranging from $5.27 million to $5.32 million. For the next fiscal year, analysts expect that the firm will report sales of $5.37 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Proteostasis Therapeutics.
Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings results on Tuesday, November 14th. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.16. The company had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.38 million. Proteostasis Therapeutics had a negative return on equity of 93.15% and a negative net margin of 712.49%.
In related news, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $4.88, for a total transaction of $2,459,651.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Enterprise Associates 12 New bought 2,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were acquired at an average cost of $5.00 per share, with a total value of $10,000,000.00. The disclosure for this purchase can be found here. Insiders have purchased 2,100,000 shares of company stock valued at $10,500,000 in the last ninety days. 17.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP acquired a new stake in Proteostasis Therapeutics during the second quarter worth approximately $254,000. FMR LLC grew its stake in 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 acquiring an additional 66,111 shares during the period. Jennison Associates LLC grew its stake in Proteostasis Therapeutics by 53.5% in the fourth quarter. Jennison Associates LLC now owns 3,178,432 shares of the company’s stock valued at $18,530,000 after acquiring an additional 1,107,496 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Proteostasis Therapeutics in the second quarter valued at approximately $296,000. Finally, Sabby Management LLC grew its stake in Proteostasis Therapeutics by 109.6% in the second quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock valued at $586,000 after acquiring an additional 65,451 shares during the period. 55.15% of the stock is owned by institutional investors and hedge funds.
Shares of Proteostasis Therapeutics (NASDAQ:PTI) traded down $0.21 during mid-day trading on Wednesday, hitting $2.90. The stock had a trading volume of 467,172 shares, compared to its average volume of 820,666. The firm has a market capitalization of $102.98, a PE ratio of -1.31 and a beta of 6.35. Proteostasis Therapeutics has a 12 month low of $1.41 and a 12 month high of $16.67.
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Proteostasis Therapeutics Company Profile
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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