Proteostasis Therapeutics Inc. (NASDAQ:PTI) major shareholder Cormorant Asset Management, Ll purchased 361,863 shares of the company’s stock in a transaction on Wednesday, November 23rd. The stock was acquired at an average price of $11.40 per share, with a total value of $4,125,238.20. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Major 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 14th, Cormorant Asset Management, Ll purchased 259,500 shares of Proteostasis Therapeutics stock. The stock was acquired at an average price of $11.05 per share, with a total value of $2,867,475.00.
  • On Monday, November 7th, Cormorant Asset Management, Ll purchased 327,977 shares of Proteostasis Therapeutics stock. The stock was acquired at an average price of $8.45 per share, with a total value of $2,771,405.65.

Shares of Proteostasis Therapeutics Inc. (NASDAQ:PTI) opened at 11.68 on Monday. The company has a 50-day moving average of $11.45 and a 200-day moving average of $13.41. The stock’s market capitalization is $291.53 million. Proteostasis Therapeutics Inc. has a 12 month low of $5.27 and a 12 month high of $20.63.

ILLEGAL ACTIVITY WARNING: “Proteostasis Therapeutics Inc. (PTI) Major Shareholder Cormorant Asset Management, Ll Acquires 361,863 Shares of Stock” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another site, it was illegally copied and reposted in violation of international copyright & trademark law. The legal version of this report can be read at https://www.thecerbatgem.com/2016/11/28/proteostasis-therapeutics-inc-pti-major-shareholder-cormorant-asset-management-ll-acquires-361863-shares-of-stock.html.

Institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD bought a new position in Proteostasis Therapeutics during the third quarter worth $3,347,000. Hillhouse Capital Management Ltd. acquired a new stake in Proteostasis Therapeutics during the third quarter valued at about $11,907,000. Rock Springs Capital Management LP raised its stake in Proteostasis Therapeutics by 8.4% in the third quarter. Rock Springs Capital Management LP now owns 450,000 shares of the company’s stock valued at $7,016,000 after buying an additional 35,000 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Proteostasis Therapeutics during the third quarter valued at about $395,000. Finally, Morgan Stanley raised its stake in Proteostasis Therapeutics by 4,210.7% in the third quarter. Morgan Stanley now owns 20,476 shares of the company’s stock valued at $319,000 after buying an additional 20,001 shares during the last quarter. 63.88% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on PTI shares. Leerink Swann reaffirmed a “buy” rating and set a $20.00 price objective on shares of Proteostasis Therapeutics in a research report on Friday, August 12th. Zacks Investment Research cut shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, August 18th. Finally, HC Wainwright set a $15.00 price objective on shares of Proteostasis Therapeutics and gave the stock a “buy” rating in a research report on Sunday, October 30th. One 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 stock presently has a consensus rating of “Buy” and an average price target of $17.00.

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.

5 Day Chart for NASDAQ:PTI

Receive News & Stock Ratings for Proteostasis Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proteostasis Therapeutics Inc. and related stocks with our FREE daily email newsletter.