RTW Investments LP cut its position in shares of Proteostasis Therapeutics Inc (NASDAQ:PTI) by 72.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 313,466 shares of the company’s stock after selling 815,655 shares during the quarter. RTW Investments LP owned 0.85% of Proteostasis Therapeutics worth $1,016,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC increased its holdings in shares of Proteostasis Therapeutics by 1.2% in the 4th quarter. Jennison Associates LLC now owns 3,733,664 shares of the company’s stock valued at $12,097,000 after purchasing an additional 43,526 shares during the period. Great Point Partners LLC acquired a new position in shares of Proteostasis Therapeutics in the 4th quarter valued at about $9,867,000. BlackRock Inc. increased its holdings in shares of Proteostasis Therapeutics by 61.1% in the 4th quarter. BlackRock Inc. now owns 2,920,723 shares of the company’s stock valued at $9,464,000 after purchasing an additional 1,107,731 shares during the period. Sectoral Asset Management Inc acquired a new position in shares of Proteostasis Therapeutics in the 4th quarter valued at about $5,125,000. Finally, venBio Select Advisor LLC acquired a new position in shares of Proteostasis Therapeutics in the 4th quarter valued at about $4,212,000. 78.36% of the stock is owned by institutional investors.

In related news, insider Meenu Chhabra sold 16,478 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $2.99, for a total value of $49,269.22. Following the transaction, the insider now owns 97,093 shares in the company, valued at $290,308.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.80% of the company’s stock.

PTI has been the topic of a number of research reports. Zacks Investment Research upgraded Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, January 17th. Cantor Fitzgerald reiterated a “buy” rating and issued a $14.00 target price on shares of Proteostasis Therapeutics in a report on Monday. Finally, ValuEngine downgraded Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $10.50.

NASDAQ:PTI traded down $2.42 during mid-day trading on Monday, reaching $1.66. The stock had a trading volume of 10,593,854 shares, compared to its average volume of 904,196. Proteostasis Therapeutics Inc has a fifty-two week low of $1.71 and a fifty-two week high of $10.38. The company has a market capitalization of $207.73 million, a P/E ratio of -0.71 and a beta of -0.81.

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Proteostasis Therapeutics Profile

Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis and other diseases caused by an imbalance in the proteostasis network. Its lead product candidate is PTI-428, an orally bioavailable cystic fibrosis transmembrane conductance regulator modulator belonging to the amplifier class, which is in Phase II study.

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Institutional Ownership by Quarter for Proteostasis Therapeutics (NASDAQ:PTI)

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