Proteostasis Therapeutics Inc (NASDAQ:PTI) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.81, but opened at $2.64. Proteostasis Therapeutics shares last traded at $2.75, with a volume of 185,961 shares.
A number of equities research analysts have recently weighed in on PTI shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Proteostasis Therapeutics in a research note on Friday, October 18th. Zacks Investment Research upgraded Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a report on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating on shares of Proteostasis Therapeutics in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $6.67.
The company has a quick ratio of 6.89, a current ratio of 6.89 and a debt-to-equity ratio of 0.18. The firm’s fifty day moving average price is $1.22 and its 200-day moving average price is $0.98. The stock has a market cap of $124.75 million, a P/E ratio of -1.68 and a beta of 0.25.
In related news, major shareholder Enterprise Associates 12 New sold 117,164 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $2.45, for a total transaction of $287,051.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. 19.80% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its holdings in shares of Proteostasis Therapeutics by 61.7% during the 2nd quarter. Acadian Asset Management LLC now owns 373,324 shares of the company’s stock worth $365,000 after acquiring an additional 142,446 shares during the period. A.R.T. Advisors LLC purchased a new position in shares of Proteostasis Therapeutics during the second quarter valued at about $189,000. GSA Capital Partners LLP bought a new stake in shares of Proteostasis Therapeutics in the second quarter worth about $178,000. Jane Street Group LLC increased its holdings in shares of Proteostasis Therapeutics by 445.5% in the second quarter. Jane Street Group LLC now owns 175,050 shares of the company’s stock worth $171,000 after purchasing an additional 142,958 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Proteostasis Therapeutics in the second quarter worth about $150,000. Institutional investors own 41.60% of the company’s stock.
About Proteostasis Therapeutics (NASDAQ:PTI)
Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis (CF) and other diseases caused by an imbalance in the proteostasis network. The company's lead product candidates include cystic fibrosis transmembrane conductance regulator (CFTR) modulators comprising PTI-428, an amplifier, which has completed Phase II study; and PTI-801, a third generation corrector molecule and PTI-808, a potentiator molecule, which has completed Phase I study.
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