Proteostasis Therapeutics Inc (NASDAQ:PTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
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 restated a “buy” rating and issued a $15.00 target price on shares of Proteostasis Therapeutics in a research report on Tuesday, January 24th.
Proteostasis Therapeutics (NASDAQ:PTI) opened at 12.14 on Tuesday. The company has a 50-day moving average price of $14.10 and a 200 day moving average price of $12.81. The stock’s market cap is $303.01 million. Proteostasis Therapeutics has a 12-month low of $6.61 and a 12-month high of $20.63.
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In other Proteostasis Therapeutics news, insider Fmr Llc sold 28,000 shares of Proteostasis Therapeutics stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $14.60, for a total value of $408,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 257,300 shares of company stock worth $3,451,694 over the last ninety days. Insiders own 29.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Trexquant Investment LP bought a new position in shares of Proteostasis Therapeutics during the fourth quarter worth approximately $240,000. Victory Capital Management Inc. bought a new position in shares of Proteostasis Therapeutics during the third quarter worth approximately $307,000. Citadel Advisors LLC bought a new position in shares of Proteostasis Therapeutics during the third quarter worth approximately $395,000. Monashee Investment Management LLC bought a new position in shares of Proteostasis Therapeutics during the third quarter worth approximately $1,325,000. Finally, JPMorgan Chase & Co. boosted 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 period. 67.71% of the stock is currently owned by institutional investors and hedge funds.
Proteostasis Therapeutics Company Profile
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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