Proteostasis Therapeutics Inc (PTI) Receives Average Rating of “Hold” from Analysts

Proteostasis Therapeutics Inc (NASDAQ:PTI) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $16.67.

A number of research firms have recently weighed in on PTI. Zacks Investment Research raised shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd. BidaskClub lowered shares of Proteostasis Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 13th.

In other news, insider Meenu Chhabra sold 16,478 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $2.99, for a total value of $49,269.22. Following the completion of the transaction, the insider now owns 97,093 shares of the company’s stock, valued at $290,308.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 19.80% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in Proteostasis Therapeutics during the fourth quarter worth approximately $37,000. Bank of Montreal Can increased its position in Proteostasis Therapeutics by 8,649.2% during the fourth quarter. Bank of Montreal Can now owns 15,486 shares of the company’s stock worth $51,000 after purchasing an additional 15,309 shares during the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new position in Proteostasis Therapeutics during the fourth quarter worth approximately $64,000. American International Group Inc. increased its position in Proteostasis Therapeutics by 32.9% during the fourth quarter. American International Group Inc. now owns 22,574 shares of the company’s stock worth $73,000 after purchasing an additional 5,593 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Proteostasis Therapeutics by 6,175.0% during the fourth quarter. New York State Common Retirement Fund now owns 25,100 shares of the company’s stock worth $81,000 after purchasing an additional 24,700 shares during the last quarter. 62.75% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:PTI traded up $0.18 during trading on Wednesday, reaching $3.93. The stock had a trading volume of 1,079,000 shares, compared to its average volume of 1,134,367. The firm has a market cap of $137.98 million, a PE ratio of -1.68 and a beta of -0.98. Proteostasis Therapeutics has a fifty-two week low of $1.71 and a fifty-two week high of $10.38.

Proteostasis Therapeutics Company Profile

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.

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