Proteostasis Therapeutics Inc (NASDAQ:PTI) shares saw strong trading volume on Friday . 989,500 shares traded hands during trading, a decline of 23% from the previous session’s volume of 1,278,783 shares.The stock last traded at $0.97 and had previously closed at $0.91.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. ValuEngine raised Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Proteostasis Therapeutics in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Proteostasis Therapeutics presently has an average rating of “Hold” and an average target price of $8.75.
The business has a 50-day moving average price of $0.76 and a 200-day moving average price of $1.45. The firm has a market capitalization of $49.60 million, a price-to-earnings ratio of -0.60 and a beta of -0.59. The company has a quick ratio of 8.19, a current ratio of 8.19 and a debt-to-equity ratio of 0.15.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTI. Jane Street Group LLC grew its position in Proteostasis Therapeutics by 445.5% during the 2nd 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 period. Paloma Partners Management Co purchased a new stake in shares of Proteostasis Therapeutics during the 2nd quarter worth about $150,000. A.R.T. Advisors LLC purchased a new position in Proteostasis Therapeutics in the 2nd quarter valued at about $189,000. Acadian Asset Management LLC lifted its stake in Proteostasis Therapeutics by 61.7% in the 2nd quarter. Acadian Asset Management LLC now owns 373,324 shares of the company’s stock valued at $365,000 after buying an additional 142,446 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Proteostasis Therapeutics in the 2nd quarter valued at about $178,000. 44.64% of the stock is currently owned by hedge funds and other institutional investors.
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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