Proteostasis Therapeutics Inc (NASDAQ:PTI)’s share price shot up 6.1% during trading on Wednesday . The company traded as high as $0.70 and last traded at $0.70, 361,535 shares changed hands during trading. A decline of 74% from the average session volume of 1,364,736 shares. The stock had previously closed at $0.66.
A number of research firms recently commented on PTI. Piper Jaffray Companies reduced their price objective on Proteostasis Therapeutics to $5.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Zacks Investment Research cut Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. ValuEngine upgraded Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, HC Wainwright reiterated a “buy” rating on shares of Proteostasis Therapeutics in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Proteostasis Therapeutics has an average rating of “Hold” and a consensus price target of $8.75.
The company has a market cap of $33.61 million, a PE ratio of -0.42 and a beta of -0.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.19 and a quick ratio of 8.19. The business has a 50-day moving average of $0.83 and a 200 day moving average of $1.74.
A number of institutional investors have recently bought and sold shares of the stock. Hikari Power Ltd purchased a new stake in Proteostasis Therapeutics in the first quarter worth about $63,000. Bank of New York Mellon Corp increased its position in Proteostasis Therapeutics by 331.6% in the fourth quarter. Bank of New York Mellon Corp now owns 268,990 shares of the company’s stock worth $871,000 after buying an additional 206,672 shares in the last quarter. Geode Capital Management LLC increased its position in Proteostasis Therapeutics by 63.5% in the fourth quarter. Geode Capital Management LLC now owns 421,035 shares of the company’s stock worth $1,364,000 after buying an additional 163,445 shares in the last quarter. Deutsche Bank AG increased its position in Proteostasis Therapeutics by 527.2% in the fourth quarter. Deutsche Bank AG now owns 321,121 shares of the company’s stock worth $1,040,000 after buying an additional 269,918 shares in the last quarter. Finally, Northern Trust Corp increased its position in Proteostasis Therapeutics by 42.0% in the fourth quarter. Northern Trust Corp now owns 385,756 shares of the company’s stock worth $1,250,000 after buying an additional 114,173 shares in the last quarter. Institutional investors own 54.13% 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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