Proteostasis Therapeutics, Inc. (NASDAQ:PTI) Raised to Hold at Zacks Investment Research

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, July 18th.

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. “

Other research analysts also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a report on Friday, June 30th. Robert W. Baird reaffirmed an “outperform” rating and set a $13.00 price target on shares of Proteostasis Therapeutics in a report on Sunday, April 2nd.

Shares of Proteostasis Therapeutics (NASDAQ:PTI) opened at 2.27 on Tuesday. The company’s market capitalization is $56.84 million. Proteostasis Therapeutics has a 1-year low of $2.20 and a 1-year high of $20.63. The stock’s 50 day moving average price is $4.13 and its 200-day moving average price is $8.05.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in shares of Proteostasis Therapeutics during the first quarter worth about $100,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Proteostasis Therapeutics during the first quarter worth about $112,000. LMR Partners LLP acquired a new position in shares of Proteostasis Therapeutics during the second quarter worth about $127,000. Trexquant Investment LP increased its position in shares of Proteostasis Therapeutics by 1.0% in the first quarter. Trexquant Investment LP now owns 19,790 shares of the company’s stock worth $155,000 after buying an additional 190 shares during the last quarter. Finally, Teachers Advisors LLC increased its position 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 worth $155,000 after buying an additional 2,223 shares during the last quarter. 78.84% of the stock is currently owned by hedge funds and other institutional investors.

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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