Proteostasis Therapeutics Inc. (NASDAQ:PTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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, Leerink Swann reissued a “buy” rating and issued a $20.00 price target on shares of Proteostasis Therapeutics in a research note on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $17.00.

Shares of Proteostasis Therapeutics (NASDAQ:PTI) opened at 12.88 on Thursday. The firm’s market cap is $247.08 million. The firm has a 50 day moving average price of $13.80 and a 200-day moving average price of $12.31. Proteostasis Therapeutics has a 12 month low of $5.27 and a 12 month high of $20.63.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its quarterly earnings results on Monday, August 15th. The company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.06. On average, analysts predict that Proteostasis Therapeutics will post ($2.22) EPS for the current fiscal year.

In other Proteostasis Therapeutics news, major shareholder Enterprise Associates 12 New acquired 461,538 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were acquired at an average price of $13.00 per share, with a total value of $5,999,994.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Franklin M. Berger acquired 69,230 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were acquired at an average cost of $13.00 per share, for a total transaction of $899,990.00. Following the purchase, the director now directly owns 166,162 shares in the company, valued at approximately $2,160,106. The disclosure for this purchase can be found here. Corporate insiders own 29.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. purchased a new position in Proteostasis Therapeutics during the second quarter worth about $122,000. Teachers Advisors Inc. purchased a new position in Proteostasis Therapeutics during the second quarter worth about $126,000. BlackRock Fund Advisors purchased a new position in Proteostasis Therapeutics during the first quarter worth about $130,000. Goldman Sachs Group Inc. purchased a new position in Proteostasis Therapeutics during the first quarter worth about $155,000. Finally, California State Teachers Retirement System purchased a new position in Proteostasis Therapeutics during the second quarter worth about $161,000. Hedge funds and other institutional investors own 50.35% of the company’s stock.

About Proteostasis Therapeutics

Proteostasis Therapeutics, Inc is a United States-based biopharmaceutical company developing small molecule therapeutics to treat diseases caused by defects in protein processing. The Company identifies selective drug candidates that modulate the proteostasis imbalance in the cell by combining the Disease-Relevant Translation, DRT platform, which is a phenotypic screening approach based on the use of functionally pertinent cellular assays and disease relevant models.

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