Shares of Proteostasis Therapeutics Inc (NASDAQ:PTI) gapped down before the market opened on Thursday . The stock had previously closed at $6.70, but opened at $6.14. Proteostasis Therapeutics shares last traded at $5.47, with a volume of 4317800 shares trading hands.

A number of analysts have recently issued reports on the company. Leerink Swann boosted their price objective on Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday. Robert W. Baird boosted their price objective on Proteostasis Therapeutics from $13.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Zacks Investment Research cut Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th.

Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings results on Tuesday, November 14th. The company reported ($0.56) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.16. The business had revenue of $1.55 million for the quarter, compared to analyst estimates of $1.38 million. Proteostasis Therapeutics had a negative return on equity of 93.15% and a negative net margin of 712.49%. equities analysts predict that Proteostasis Therapeutics Inc will post -2.47 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. LMR Partners LLP acquired a new position in Proteostasis Therapeutics in the second quarter worth $127,000. Goldman Sachs Group Inc. boosted its stake in Proteostasis Therapeutics by 364.3% in the second quarter. Goldman Sachs Group Inc. now owns 51,911 shares of the company’s stock worth $243,000 after purchasing an additional 40,731 shares in the last quarter. Susquehanna International Group LLP acquired a new position in Proteostasis Therapeutics in the second quarter worth $254,000. Dimensional Fund Advisors LP acquired a new position in Proteostasis Therapeutics in the second quarter worth $296,000. Finally, Sabby Management LLC boosted its stake in Proteostasis Therapeutics by 109.6% in the second quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock worth $586,000 after purchasing an additional 65,451 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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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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