Proteostasis Therapeutics (NASDAQ:PTI) Shares Down 5.1%

Proteostasis Therapeutics Inc (NASDAQ:PTI)’s share price dropped 5.1% during trading on Thursday . The stock traded as low as $0.93 and last traded at $0.94. Approximately 1,628,885 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 1,614,140 shares. The stock had previously closed at $0.99.

PTI has been the topic of several research analyst reports. ValuEngine upgraded Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 1st. Cantor Fitzgerald reiterated a “buy” rating and issued a $14.00 price objective on shares of Proteostasis Therapeutics in a report on Monday, March 25th. Piper Jaffray Companies cut their price objective on Proteostasis Therapeutics to $5.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Finally, Zacks Investment Research upgraded Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Proteostasis Therapeutics presently has an average rating of “Buy” and an average price target of $9.63.

The company has a current ratio of 11.30, a quick ratio of 11.29 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $1.04.

Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.11. The business had revenue of $5.00 million for the quarter, compared to analyst estimates of $0.80 million. Proteostasis Therapeutics had a negative net margin of 1,307.84% and a negative return on equity of 84.01%. Equities research analysts forecast that Proteostasis Therapeutics Inc will post -1.45 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in Proteostasis Therapeutics during the 4th quarter worth approximately $41,000. Great Point Partners LLC purchased a new position in shares of Proteostasis Therapeutics during the fourth quarter valued at $9,867,000. Hikari Power Ltd purchased a new position in shares of Proteostasis Therapeutics during the first quarter valued at $63,000. Bank of Montreal Can increased its stake in shares of Proteostasis Therapeutics by 8,649.2% during the fourth quarter. Bank of Montreal Can now owns 15,486 shares of the company’s stock valued at $51,000 after buying an additional 15,309 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Proteostasis Therapeutics by 331.6% during the fourth quarter. Bank of New York Mellon Corp now owns 268,990 shares of the company’s stock valued at $871,000 after buying an additional 206,672 shares during the period. 60.15% of the stock is owned by institutional investors and hedge funds.

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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