Proteostasis Therapeutics, Inc. (PTI) Hits New 1-Year Low at $1.75
Proteostasis Therapeutics, Inc. (NASDAQ:PTI)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.75 and last traded at $1.75, with a volume of 66,462 shares. The stock had previously closed at $1.84.
A number of research firms have recently commented on PTI. Leerink Swann restated an “outperform” rating and set a $9.00 price objective (down from $17.00) on shares of Proteostasis Therapeutics in a research note on Wednesday, August 16th. Zacks Investment Research downgraded shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, June 15th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Proteostasis Therapeutics in a research note on Friday, June 30th.
The firm’s market capitalization is $43.93 million. The company has a 50-day moving average price of $3.30 and a 200-day moving average price of $7.00.
Several large investors have recently bought and sold shares of PTI. FMR LLC increased its stake in Proteostasis Therapeutics by 2.3% in the second quarter. FMR LLC now owns 2,944,915 shares of the company’s stock valued at $13,782,000 after buying an additional 66,111 shares during the last quarter. Jennison Associates LLC increased its stake in Proteostasis Therapeutics by 6.2% in the second quarter. Jennison Associates LLC now owns 2,075,439 shares of the company’s stock valued at $9,713,000 after buying an additional 120,575 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in Proteostasis Therapeutics during the first quarter valued at approximately $5,946,000. MARSHALL WACE ASIA Ltd acquired a new stake in Proteostasis Therapeutics during the first quarter valued at approximately $5,946,000. Finally, HarbourVest Partners LLC acquired a new stake in Proteostasis Therapeutics during the first quarter valued at approximately $3,446,000. 75.40% of the stock is owned by institutional investors.
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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