Proteostasis Therapeutics Inc (NASDAQ:PTI) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 1,294 put options on the stock. This represents an increase of 1,121% compared to the average daily volume of 106 put options.
Proteostasis Therapeutics (NASDAQ:PTI) opened at $7.08 on Friday. Proteostasis Therapeutics has a one year low of $1.41 and a one year high of $13.16. The stock has a market cap of $226.03, a price-to-earnings ratio of -3.19 and a beta of 6.66.
A number of equities analysts have recently issued reports on PTI shares. Leerink Swann increased their price objective on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a research note on Tuesday, December 12th. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Proteostasis Therapeutics in a research note on Tuesday, December 19th. Zacks Investment Research upgraded shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Royal Bank of Canada started coverage on shares of Proteostasis Therapeutics in a research note on Friday, March 9th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, Robert W. Baird increased their price objective on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, one has issued 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 target price of $14.75.
In related news, insider Meenu Chhabra bought 40,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $200,000.00. Following the purchase, the insider now directly owns 50,218 shares in the company, valued at $251,090. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Enterprise Associates 12 New acquired 2,000,000 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was acquired at an average price of $5.00 per share, with a total value of $10,000,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,100,000 shares of company stock valued at $10,500,000. Corporate insiders own 17.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in PTI. Dimensional Fund Advisors LP bought a new stake in shares of Proteostasis Therapeutics in the 2nd quarter worth about $296,000. Goldman Sachs Group Inc. grew its holdings in shares of Proteostasis Therapeutics by 364.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 51,911 shares of the company’s stock worth $243,000 after purchasing an additional 40,731 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Proteostasis Therapeutics by 425.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,602 shares of the company’s stock worth $2,361,000 after purchasing an additional 910,550 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Proteostasis Therapeutics by 53.5% in the 4th quarter. Jennison Associates LLC now owns 3,178,432 shares of the company’s stock worth $18,530,000 after purchasing an additional 1,107,496 shares during the last quarter. Finally, Monashee Investment Management LLC bought a new stake in shares of Proteostasis Therapeutics in the 4th quarter worth about $2,186,000. Institutional investors own 70.48% of the company’s stock.
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About Proteostasis Therapeutics
Proteostasis Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in discovery and development of therapeutics that treat diseases caused by an imbalance in the proteostasis network, a set of pathways that control protein biosynthesis, folding, trafficking and clearance. It has developed the Disease Relevant Translation (DRT) technology platform, a drug screening approach for identifying highly translatable therapeutics based on predictive and functionally pertinent phenotypic assays and disease relevant models.
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