Proteostasis Therapeutics (PTI) Trading Down 10.9%
Proteostasis Therapeutics Inc (NASDAQ:PTI) was down 10.9% on Wednesday . The stock traded as low as $5.38 and last traded at $5.47. Approximately 4,317,200 shares were traded during trading, an increase of 1,265% from the average daily volume of 316,378 shares. The stock had previously closed at $6.14.
Several brokerages recently issued reports on PTI. Leerink Swann raised their target price on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a report on Tuesday. Zacks Investment Research cut shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 18th. Finally, Robert W. Baird raised their target price on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday.
Proteostasis Therapeutics (NASDAQ:PTI) last issued its earnings results on Tuesday, November 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.16. Proteostasis Therapeutics had a negative net margin of 712.49% and a negative return on equity of 93.15%. The company had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $1.38 million. research analysts anticipate that Proteostasis Therapeutics Inc will post -2.47 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP purchased a new position in shares of Proteostasis Therapeutics during the 2nd quarter worth $254,000. Jennison Associates LLC boosted its stake in shares of Proteostasis Therapeutics by 6.2% during the 2nd quarter. Jennison Associates LLC now owns 2,075,439 shares of the company’s stock worth $9,713,000 after acquiring an additional 120,575 shares during the last quarter. FMR LLC boosted its stake in shares of Proteostasis Therapeutics by 2.3% during the 2nd quarter. FMR LLC now owns 2,944,915 shares of the company’s stock worth $13,782,000 after acquiring an additional 66,111 shares during the last quarter. Bain Capital Public Equity Management LLC purchased a new position in shares of Proteostasis Therapeutics during the 2nd quarter worth $1,233,000. Finally, Sabby Management LLC boosted its stake in shares of Proteostasis Therapeutics by 109.6% during the 2nd quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock worth $586,000 after acquiring an additional 65,451 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.
WARNING: This story was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.watchlistnews.com/proteostasis-therapeutics-pti-trading-down-10-9/1765698.html.
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.
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.