Proteostasis Therapeutics (PTI) Shares Gap Down to $1.31
Proteostasis Therapeutics Inc (NASDAQ:PTI)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $0.64, but opened at $1.31. Proteostasis Therapeutics shares last traded at $1.35, with a volume of 140360 shares trading hands.
Several equities analysts have weighed in on PTI shares. Zacks Investment Research lowered Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. Cantor Fitzgerald restated a “buy” rating and set a $21.00 target price on shares of Proteostasis Therapeutics in a report on Monday, December 17th. Finally, ValuEngine lowered Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $10.50.
The stock has a market cap of $71.46 million, a PE ratio of -0.77 and a beta of -0.81.
Several large investors have recently modified their holdings of the company. Jennison Associates LLC grew its position in shares of Proteostasis Therapeutics by 1.2% in the fourth quarter. Jennison Associates LLC now owns 3,733,664 shares of the company’s stock valued at $12,097,000 after purchasing an additional 43,526 shares during the last quarter. Great Point Partners LLC acquired a new stake in shares of Proteostasis Therapeutics in the fourth quarter valued at about $9,867,000. BlackRock Inc. grew its position in shares of Proteostasis Therapeutics by 61.1% in the fourth quarter. BlackRock Inc. now owns 2,920,723 shares of the company’s stock valued at $9,464,000 after purchasing an additional 1,107,731 shares during the last quarter. Sectoral Asset Management Inc acquired a new stake in shares of Proteostasis Therapeutics in the fourth quarter valued at about $5,125,000. Finally, venBio Select Advisor LLC acquired a new stake in Proteostasis Therapeutics during the fourth quarter worth about $4,212,000. 78.36% of the stock is currently owned by institutional investors.
About Proteostasis Therapeutics (NASDAQ:PTI)
Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis and other diseases caused by an imbalance in the proteostasis network. Its lead product candidate is PTI-428, an orally bioavailable cystic fibrosis transmembrane conductance regulator modulator belonging to the amplifier class, which is in Phase II study.
Recommended Story: Straddles
Receive News & Ratings for Proteostasis Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proteostasis Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.