Proteostasis Therapeutics Inc (PTI) Raised to “Hold” at Zacks Investment Research
According to Zacks, “Proteostasis Therapeutics, Inc. is a biopharmaceutical company which focuses on the discovery and development of novel therapeutics to treat diseases caused by an imbalance in the proteostasis network primarily in the United States. Proteostasis Therapeutics, Inc. is based in Cambridge, Massachusetts. “
Separately, HC Wainwright reiterated a buy rating and issued a $15.00 price objective on shares of Proteostasis Therapeutics in a report on Tuesday, January 24th.
Shares of Proteostasis Therapeutics (NASDAQ:PTI) traded up 0.40% during mid-day trading on Wednesday, hitting $12.46. 4,144 shares of the stock were exchanged. The firm’s market cap is $311.00 million. The company’s 50-day moving average is $14.10 and its 200-day moving average is $12.81. Proteostasis Therapeutics has a 1-year low of $6.61 and a 1-year high of $20.63.
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In related news, insider Fmr Llc sold 25,000 shares of the business’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $12.04, for a total transaction of $301,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 257,300 shares of company stock worth $3,451,694. 29.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Trexquant Investment LP purchased a new position in shares of Proteostasis Therapeutics during the fourth quarter worth $240,000. Victory Capital Management Inc. purchased a new position in shares of Proteostasis Therapeutics during the third quarter worth $307,000. Citadel Advisors LLC purchased a new position in shares of Proteostasis Therapeutics during the third quarter worth $395,000. Monashee Investment Management LLC purchased a new position in shares of Proteostasis Therapeutics during the third quarter worth $1,325,000. Finally, JPMorgan Chase & Co. increased its position in shares of Proteostasis Therapeutics by 174.7% in the third quarter. JPMorgan Chase & Co. now owns 172,650 shares of the company’s stock worth $2,692,000 after buying an additional 109,800 shares during the last quarter. Institutional investors and hedge funds own 67.71% of the company’s stock.
About Proteostasis Therapeutics
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.
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