Shares of Proteostasis Therapeutics Inc (NASDAQ:PTI) fell 23.2% during trading on Friday . The stock traded as low as $7.70 and last traded at $7.95. 13,816,112 shares were traded during trading, an increase of 815% from the average session volume of 1,510,419 shares. The stock had previously closed at $10.35.

Several research firms recently commented on PTI. Zacks Investment Research upgraded shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 15th. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a research report on Thursday. ValuEngine upgraded shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada upgraded shares of Proteostasis Therapeutics from a “sector perform” rating to an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Proteostasis Therapeutics has a consensus rating of “Buy” and an average price target of $12.25.

The stock has a market cap of $69.36 million, a P/E ratio of -3.36 and a beta of 3.93.

Proteostasis Therapeutics (NASDAQ:PTI) last released its quarterly earnings results on Wednesday, August 8th. The company reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.04). Proteostasis Therapeutics had a negative net margin of 1,086.77% and a negative return on equity of 96.44%. The firm had revenue of $0.84 million for the quarter, compared to analyst estimates of $1.16 million. As a group, equities research analysts expect that Proteostasis Therapeutics Inc will post -2.01 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC grew its position in shares of Proteostasis Therapeutics by 1.2% in the second quarter. Jennison Associates LLC now owns 3,663,710 shares of the company’s stock valued at $10,222,000 after purchasing an additional 41,856 shares during the period. BlackRock Inc. grew its position in shares of Proteostasis Therapeutics by 3,693.4% in the second quarter. BlackRock Inc. now owns 1,807,717 shares of the company’s stock valued at $5,043,000 after purchasing an additional 1,760,063 shares during the period. Bailard Inc. grew its position in shares of Proteostasis Therapeutics by 12.0% in the second quarter. Bailard Inc. now owns 582,400 shares of the company’s stock valued at $1,625,000 after purchasing an additional 62,300 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Proteostasis Therapeutics in the first quarter valued at about $2,285,000. Finally, Northern Trust Corp grew its position in shares of Proteostasis Therapeutics by 526.1% in the second quarter. Northern Trust Corp now owns 269,451 shares of the company’s stock valued at $752,000 after purchasing an additional 226,417 shares during the period. Institutional investors and hedge funds own 64.58% of the company’s stock.

Proteostasis Therapeutics Company Profile (NASDAQ:PTI)

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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