Bailard Inc. purchased a new stake in shares of Proteostasis Therapeutics Inc. (NASDAQ:PTI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 520,100 shares of the company’s stock, valued at approximately $2,470,000. Bailard Inc. owned 1.49% of Proteostasis Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in PTI. RTW Investments LP bought a new stake in shares of Proteostasis Therapeutics during the fourth quarter valued at about $8,745,000. Jennison Associates LLC raised its stake in shares of Proteostasis Therapeutics by 53.5% during the fourth quarter. Jennison Associates LLC now owns 3,178,432 shares of the company’s stock valued at $18,530,000 after purchasing an additional 1,107,496 shares in the last quarter. Millennium Management LLC raised its stake in shares of Proteostasis Therapeutics by 434.2% during the fourth quarter. Millennium Management LLC now owns 953,513 shares of the company’s stock valued at $5,559,000 after purchasing an additional 775,019 shares in the last quarter. J. Goldman & Co LP raised its stake in shares of Proteostasis Therapeutics by 1,900.2% during the fourth quarter. J. Goldman & Co LP now owns 550,043 shares of the company’s stock valued at $3,207,000 after purchasing an additional 522,543 shares in the last quarter. Finally, Endurant Capital Management LP bought a new stake in shares of Proteostasis Therapeutics during the fourth quarter valued at about $2,828,000. 70.17% of the stock is owned by institutional investors.
Shares of Proteostasis Therapeutics opened at $5.03 on Friday, Marketbeat Ratings reports. Proteostasis Therapeutics Inc. has a 52 week low of $5.29 and a 52 week high of $5.42.
Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings results on Wednesday, May 9th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.21. Proteostasis Therapeutics had a negative net margin of 1,052.40% and a negative return on equity of 101.43%. equities analysts expect that Proteostasis Therapeutics Inc. will post -2.11 EPS for the current year.
A number of brokerages recently weighed in on PTI. ValuEngine upgraded shares of Proteostasis Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 28th. Zacks Investment Research upgraded shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada began coverage on shares of Proteostasis Therapeutics in a research note on Friday, March 9th. They set an “outperform” rating and a $11.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.45.
Proteostasis Therapeutics Profile
Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis and other diseases caused by an imbalance in the proteostasis network. Its lead product candidate is PTI-428, an orally bioavailable cystic fibrosis transmembrane conductance regulator modulator belonging to the amplifier class, which is in Phase II study.
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