Proteostasis Therapeutics, Inc. (NASDAQ:PTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report 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. “
Several other equities research analysts also recently issued reports on PTI. Robert W. Baird reiterated an “outperform” rating and set a $13.00 price target on shares of Proteostasis Therapeutics in a report on Sunday, April 2nd. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a report on Friday, June 30th.
Proteostasis Therapeutics (NASDAQ PTI) opened at 4.78 on Tuesday. Proteostasis Therapeutics has a 52 week low of $3.50 and a 52 week high of $20.63. The stock’s 50 day moving average is $4.15 and its 200 day moving average is $9.40. The company’s market capitalization is $119.70 million.
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Large investors have recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Proteostasis Therapeutics by 21.4% in the fourth quarter. Teachers Advisors LLC now owns 12,617 shares of the company’s stock valued at $155,000 after buying an additional 2,223 shares during the period. Candriam Luxembourg S.C.A. increased its stake in shares of Proteostasis Therapeutics by 66.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 75,000 shares of the company’s stock valued at $587,000 after buying an additional 30,000 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Proteostasis Therapeutics during the first quarter valued at about $100,000. Bank of New York Mellon Corp increased its stake in shares of Proteostasis Therapeutics by 17.3% in the first quarter. Bank of New York Mellon Corp now owns 34,964 shares of the company’s stock valued at $273,000 after buying an additional 5,153 shares during the period. Finally, TD Asset Management Inc. bought a new stake in shares of Proteostasis Therapeutics during the first quarter valued at about $199,000. Institutional investors and hedge funds own 78.89% of the company’s stock.
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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