venBio Select Advisor LLC Acquires New Holdings in Proteostasis Therapeutics Inc (PTI)

venBio Select Advisor LLC acquired a new position in Proteostasis Therapeutics Inc (NASDAQ:PTI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,300,000 shares of the company’s stock, valued at approximately $4,212,000. venBio Select Advisor LLC owned 3.54% of Proteostasis Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PTI. Meeder Asset Management Inc. acquired a new position in shares of Proteostasis Therapeutics in the fourth quarter worth about $37,000. Bank of Montreal Can boosted its holdings in shares of Proteostasis Therapeutics by 8,649.2% during the fourth quarter. Bank of Montreal Can now owns 15,486 shares of the company’s stock worth $51,000 after purchasing an additional 15,309 shares during the period. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Proteostasis Therapeutics during the fourth quarter worth approximately $64,000. American International Group Inc. boosted its holdings in shares of Proteostasis Therapeutics by 32.9% during the fourth quarter. American International Group Inc. now owns 22,574 shares of the company’s stock worth $73,000 after purchasing an additional 5,593 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in shares of Proteostasis Therapeutics by 6,175.0% during the fourth quarter. New York State Common Retirement Fund now owns 25,100 shares of the company’s stock worth $81,000 after purchasing an additional 24,700 shares during the period.

PTI has been the subject of several research reports. Zacks Investment Research upgraded shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, January 17th. ValuEngine cut shares of Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 21st. Finally, Cantor Fitzgerald restated a “buy” rating and set a $21.00 price target on shares of Proteostasis Therapeutics in a report on Monday, December 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $11.90.

Shares of PTI stock traded up $0.07 during trading on Friday, hitting $4.05. 14,219 shares of the company were exchanged, compared to its average volume of 1,029,268. The stock has a market cap of $146.05 million, a P/E ratio of -1.73 and a beta of -0.81. Proteostasis Therapeutics Inc has a twelve month low of $1.71 and a twelve month high of $10.38.

In related news, insider Meenu Chhabra sold 16,478 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $2.99, for a total transaction of $49,269.22. Following the completion of the sale, the insider now directly owns 97,093 shares in the company, valued at $290,308.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 19.80% of the company’s stock.

WARNING: “venBio Select Advisor LLC Acquires New Holdings in Proteostasis Therapeutics Inc (PTI)” was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this article on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this article can be viewed at https://www.chaffeybreeze.com/2019/03/15/venbio-select-advisor-llc-acquires-new-holdings-in-proteostasis-therapeutics-inc-pti.html.

Proteostasis Therapeutics Company 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.

Recommended Story: Stock Selection – What is cash flow?

Institutional Ownership by Quarter for Proteostasis Therapeutics (NASDAQ:PTI)

Receive News & Ratings for Proteostasis Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proteostasis Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.