Proteostasis Therapeutics Inc (NASDAQ:PTI)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $0.64, but opened at $1.31. Proteostasis Therapeutics shares last traded at $1.35, with a volume of 140360 shares trading hands.

Several equities analysts have weighed in on PTI shares. Zacks Investment Research lowered Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. Cantor Fitzgerald restated a “buy” rating and set a $21.00 target price on shares of Proteostasis Therapeutics in a report on Monday, December 17th. Finally, ValuEngine lowered Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $10.50.

The stock has a market cap of $71.46 million, a PE ratio of -0.77 and a beta of -0.81.

In other news, insider Meenu Chhabra sold 16,478 shares of the firm’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $2.99, for a total value of $49,269.22. Following the sale, the insider now directly owns 97,093 shares of the company’s stock, valued at $290,308.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 19.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. Jennison Associates LLC grew its position in shares of Proteostasis Therapeutics by 1.2% in the fourth quarter. Jennison Associates LLC now owns 3,733,664 shares of the company’s stock valued at $12,097,000 after purchasing an additional 43,526 shares during the last quarter. Great Point Partners LLC acquired a new stake in shares of Proteostasis Therapeutics in the fourth quarter valued at about $9,867,000. BlackRock Inc. grew its position in shares of Proteostasis Therapeutics by 61.1% in the fourth quarter. BlackRock Inc. now owns 2,920,723 shares of the company’s stock valued at $9,464,000 after purchasing an additional 1,107,731 shares during the last quarter. Sectoral Asset Management Inc acquired a new stake in shares of Proteostasis Therapeutics in the fourth quarter valued at about $5,125,000. Finally, venBio Select Advisor LLC acquired a new stake in Proteostasis Therapeutics during the fourth quarter worth about $4,212,000. 78.36% of the stock is currently owned by institutional investors.

WARNING: This news story was first posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.watchlistnews.com/proteostasis-therapeutics-pti-shares-gap-down-to-1-31/2923103.html.

About Proteostasis Therapeutics (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.

Recommended Story: Straddles

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.