Proteostasis Therapeutics Inc. (NASDAQ:PTI) major shareholder Cormorant Asset Management, Ll acquired 361,863 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were bought at an average price of $11.40 per share, with a total value of $4,125,238.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% 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 acquired 259,500 shares of Proteostasis Therapeutics stock. The shares were bought 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 acquired 327,977 shares of Proteostasis Therapeutics stock. The shares were bought at an average price of $8.45 per share, with a total value of $2,771,405.65.

Proteostasis Therapeutics Inc. (NASDAQ:PTI) opened at 10.86 on Wednesday. The firm’s market capitalization is $271.07 million. The firm has a 50-day moving average price of $11.34 and a 200 day moving average price of $13.42. Proteostasis Therapeutics Inc. has a one year low of $5.27 and a one year high of $20.63.

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A number of institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Proteostasis Therapeutics during the third quarter worth approximately $105,000. Schwab Charles Investment Management Inc. purchased a new position in Proteostasis Therapeutics during the second quarter worth approximately $122,000. Teachers Advisors Inc. purchased a new position in Proteostasis Therapeutics during the second quarter worth approximately $126,000. California State Teachers Retirement System purchased a new position in Proteostasis Therapeutics during the second quarter worth approximately $161,000. Finally, Bank of New York Mellon Corp purchased a new position in Proteostasis Therapeutics during the second quarter worth approximately $185,000. 63.88% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on PTI. Zacks Investment Research downgraded Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, August 18th. Leerink Swann restated a “buy” rating and set a $20.00 price objective on shares of Proteostasis Therapeutics in a research report on Friday, August 12th. Finally, HC Wainwright set a $15.00 price objective on Proteostasis Therapeutics and gave the stock a “buy” rating in a research report on Sunday, October 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock 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.

5 Day Chart for NASDAQ:PTI

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