Proteostasis Therapeutics Inc (NASDAQ:PTI) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 2,530,000 shares, a drop of 8.7% from the August 30th total of 2,770,000 shares. Approximately 7.0% of the company’s shares are short sold. Based on an average trading volume of 417,000 shares, the days-to-cover ratio is currently 6.1 days.
PTI traded up $0.02 during mid-day trading on Thursday, hitting $0.75. The stock had a trading volume of 1,003,745 shares, compared to its average volume of 286,260. The stock’s fifty day simple moving average is $0.84 and its 200-day simple moving average is $0.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.19 and a quick ratio of 8.19. The firm has a market capitalization of $38.97 million, a price-to-earnings ratio of -0.47 and a beta of -0.58. Proteostasis Therapeutics has a 1-year low of $0.61 and a 1-year high of $10.38.
Proteostasis Therapeutics (NASDAQ:PTI) last posted its earnings results on Wednesday, August 7th. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.01). As a group, research analysts expect that Proteostasis Therapeutics will post -1.49 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of PTI. A.R.T. Advisors LLC acquired a new stake in Proteostasis Therapeutics in the second quarter worth $189,000. GSA Capital Partners LLP acquired a new stake in Proteostasis Therapeutics in the second quarter worth $178,000. Paloma Partners Management Co acquired a new stake in Proteostasis Therapeutics in the second quarter worth $150,000. Jane Street Group LLC raised its holdings in Proteostasis Therapeutics by 445.5% in the second quarter. Jane Street Group LLC now owns 175,050 shares of the company’s stock worth $171,000 after purchasing an additional 142,958 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Proteostasis Therapeutics by 61.7% in the second quarter. Acadian Asset Management LLC now owns 373,324 shares of the company’s stock worth $365,000 after purchasing an additional 142,446 shares during the period. Institutional investors own 44.64% of the company’s stock.
A number of equities analysts have issued reports on PTI shares. Zacks Investment Research cut shares of Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. ValuEngine raised shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, HC Wainwright reiterated a “buy” rating on shares of Proteostasis Therapeutics in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Proteostasis Therapeutics presently has a consensus rating of “Hold” and an average price target of $8.75.
Proteostasis Therapeutics Company Profile
Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis (CF) and other diseases caused by an imbalance in the proteostasis network. The company's lead product candidates include cystic fibrosis transmembrane conductance regulator (CFTR) modulators comprising PTI-428, an amplifier, which has completed Phase II study; and PTI-801, a third generation corrector molecule and PTI-808, a potentiator molecule, which has completed Phase I study.
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