Cormorant Asset Management, Ll Sells 504,027 Shares of Proteostasis Therapeutics Inc (PTI) Stock
Proteostasis Therapeutics Inc (NASDAQ:PTI) major shareholder Cormorant Asset Management, Ll sold 504,027 shares of Proteostasis Therapeutics stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $4.88, for a total transaction of $2,459,651.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Proteostasis Therapeutics Inc (PTI) opened at $5.02 on Wednesday. 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 for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.16. The firm 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 anticipate that Proteostasis Therapeutics Inc will post -2.47 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on PTI. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Proteostasis Therapeutics in a report on Tuesday. Leerink Swann boosted their price objective on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a report on Tuesday, December 12th. Robert W. Baird boosted their price objective on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Finally, Zacks Investment Research lowered shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 18th.
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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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