Cormorant Asset Management, Ll Acquires 259,500 Shares of Proteostasis Therapeutics Inc. (PTI) Stock
Proteostasis Therapeutics Inc. (NASDAQ:PTI) major shareholder Cormorant Asset Management, Ll acquired 259,500 shares of the company’s stock in a transaction on Monday, November 14th. The stock was bought at an average cost of $11.05 per share, with a total value of $2,867,475.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Cormorant Asset Management, Ll also recently made the following trade(s):
- On Monday, November 7th, Cormorant Asset Management, Ll acquired 327,977 shares of Proteostasis Therapeutics stock. The stock was bought at an average cost of $8.45 per share, with a total value of $2,771,405.65.
Shares of Proteostasis Therapeutics Inc. (NASDAQ:PTI) opened at 11.50 on Wednesday. The company’s 50-day moving average price is $12.29 and its 200-day moving average price is $13.41. The company’s market cap is $287.04 million. Proteostasis Therapeutics Inc. has a 12 month low of $5.27 and a 12 month high of $20.63.
Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings data on Monday, August 15th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.41) by $0.06. Proteostasis Therapeutics had a negative net margin of 601.28% and a negative return on equity of 257.35%. Analysts anticipate that Proteostasis Therapeutics Inc. will post ($2.32) EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC raised its position in shares of Proteostasis Therapeutics by 47.2% in the third quarter. Jennison Associates LLC now owns 1,229,362 shares of the company’s stock valued at $19,166,000 after buying an additional 394,259 shares during the period. Schwab Charles Investment Management Inc. purchased a new position in shares of Proteostasis Therapeutics during the second quarter valued at $122,000. Opaleye Management Inc. purchased a new position in shares of Proteostasis Therapeutics during the second quarter valued at $1,274,000. State Street Corp purchased a new position in shares of Proteostasis Therapeutics during the second quarter valued at $1,109,000. Finally, Teachers Advisors Inc. purchased a new position in shares of Proteostasis Therapeutics during the second quarter valued at $126,000. 42.59% of the stock is owned by institutional investors and hedge funds.
PTI has been the topic of several recent analyst reports. Zacks Investment Research lowered Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, August 18th. Leerink Swann reiterated a “buy” rating and issued a $20.00 price target on shares of Proteostasis Therapeutics in a research note on Friday, August 12th. Finally, HC Wainwright set a $15.00 price target on Proteostasis Therapeutics and gave the company a “buy” rating in a research note on Sunday, October 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Proteostasis Therapeutics currently has an average rating of “Buy” and a consensus target price of $17.00.
Proteostasis Therapeutics Company Profile
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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