Franklin M. Berger Buys 40,000 Shares of Proteostasis Therapeutics Inc (PTI) Stock

Proteostasis Therapeutics Inc (NASDAQ:PTI) Director Franklin M. Berger acquired 40,000 shares of the stock in a transaction dated Friday, October 26th. The stock was acquired at an average cost of $6.75 per share, with a total value of $270,000.00. Following the transaction, the director now owns 266,162 shares of the company’s stock, valued at $1,796,593.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PTI stock traded up $0.64 during trading on Friday, reaching $5.99. 5,943,194 shares of the stock traded hands, compared to its average volume of 1,629,514. Proteostasis Therapeutics Inc has a 52-week low of $1.41 and a 52-week high of $10.38. The company has a market cap of $264.22 million, a PE ratio of -2.56 and a beta of 3.93.

Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings data on Wednesday, August 8th. The company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.04). The company had revenue of $0.84 million for the quarter, compared to analyst estimates of $1.16 million. Proteostasis Therapeutics had a negative return on equity of 96.44% and a negative net margin of 1,086.77%. Equities analysts predict that Proteostasis Therapeutics Inc will post -2.01 earnings per share for the current fiscal year.



PTI has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada raised Proteostasis Therapeutics from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 18th. ValuEngine raised Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. Finally, HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a research report on Thursday, October 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $12.40.

Institutional investors and hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. lifted its stake in shares of Proteostasis Therapeutics by 156.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock worth $131,000 after purchasing an additional 28,600 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Proteostasis Therapeutics during the second quarter worth about $141,000. Element Capital Management LLC acquired a new position in shares of Proteostasis Therapeutics during the first quarter worth about $158,000. Bank of New York Mellon Corp lifted its stake in shares of Proteostasis Therapeutics by 252.8% during the second quarter. Bank of New York Mellon Corp now owns 62,319 shares of the company’s stock worth $174,000 after purchasing an additional 44,653 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Proteostasis Therapeutics by 82.2% during the first quarter. Northern Trust Corp now owns 43,034 shares of the company’s stock worth $204,000 after purchasing an additional 19,416 shares in the last quarter. Institutional investors own 64.58% of the company’s stock.

About Proteostasis Therapeutics

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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