Proteostasis Therapeutics Inc (NASDAQ:PTI) was down 10.9% on Wednesday . The stock traded as low as $5.38 and last traded at $5.47. Approximately 4,317,200 shares were traded during trading, an increase of 1,265% from the average daily volume of 316,378 shares. The stock had previously closed at $6.14.

Several brokerages recently issued reports on PTI. Leerink Swann raised their target price on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a report on Tuesday. Zacks Investment Research cut shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 18th. Finally, Robert W. Baird raised their target price on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday.

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

Institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP purchased a new position in shares of Proteostasis Therapeutics during the 2nd quarter worth $254,000. Jennison Associates LLC boosted its stake in shares of Proteostasis Therapeutics by 6.2% during the 2nd quarter. Jennison Associates LLC now owns 2,075,439 shares of the company’s stock worth $9,713,000 after acquiring an additional 120,575 shares during the last quarter. FMR LLC boosted its stake in shares of Proteostasis Therapeutics by 2.3% during the 2nd quarter. FMR LLC now owns 2,944,915 shares of the company’s stock worth $13,782,000 after acquiring an additional 66,111 shares during the last quarter. Bain Capital Public Equity Management LLC purchased a new position in shares of Proteostasis Therapeutics during the 2nd quarter worth $1,233,000. Finally, Sabby Management LLC boosted its stake in shares of Proteostasis Therapeutics by 109.6% during the 2nd quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock worth $586,000 after acquiring an additional 65,451 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

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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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