Proteostasis Therapeutics, Inc. (PTI) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research downgraded shares of Proteostasis Therapeutics, Inc. (NASDAQ:PTI) from a hold rating to a sell rating in a research note released on Saturday.
According to Zacks, “Proteostasis Therapeutics, Inc. is a biopharmaceutical company which focuses on the discovery and development of novel therapeutics to treat diseases caused by an imbalance in the proteostasis network primarily in the United States. Proteostasis Therapeutics, Inc. is based in Cambridge, Massachusetts. “
Separately, Leerink Swann reaffirmed an outperform rating and issued a $9.00 target price (down from $17.00) on shares of Proteostasis Therapeutics in a report on Wednesday, August 16th.
Shares of Proteostasis Therapeutics (PTI) traded up $0.16 during midday trading on Friday, reaching $1.86. 147,150 shares of the company were exchanged, compared to its average volume of 104,594. Proteostasis Therapeutics has a one year low of $1.41 and a one year high of $16.67.
Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings results on Tuesday, November 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.16. Proteostasis Therapeutics had a negative net margin of 712.49% and a negative return on equity of 93.15%. The company had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.38 million. equities analysts anticipate that Proteostasis Therapeutics will post -2.55 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the business. LMR Partners LLP purchased a new position in Proteostasis Therapeutics in the second quarter worth about $127,000. Goldman Sachs Group Inc. raised its holdings in shares of Proteostasis Therapeutics by 364.3% during the second quarter. Goldman Sachs Group Inc. now owns 51,911 shares of the company’s stock valued at $243,000 after purchasing an additional 40,731 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Proteostasis Therapeutics during the second quarter valued at approximately $254,000. Bank of New York Mellon Corp raised its holdings in shares of Proteostasis Therapeutics by 17.3% during the first quarter. Bank of New York Mellon Corp now owns 34,964 shares of the company’s stock valued at $273,000 after purchasing an additional 5,153 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Proteostasis Therapeutics during the second quarter valued at approximately $296,000. 73.69% of the stock is owned by institutional investors and hedge funds.
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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