Zacks Investment Research upgraded shares of Proteostasis Therapeutics Inc (NASDAQ:PTI) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

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 reissued a buy rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a research report on Tuesday, January 24th.

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Shares of Proteostasis Therapeutics (NASDAQ:PTI) opened at 12.14 on Wednesday. Proteostasis Therapeutics has a one year low of $6.61 and a one year high of $20.63. The firm’s 50-day moving average is $14.10 and its 200-day moving average is $12.81. The company’s market cap is $303.01 million.

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In related news, insider Fmr Llc sold 28,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were 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 is available at this link. Insiders sold 257,300 shares of company stock worth $3,451,694 in the last 90 days. 29.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP boosted its position in shares of Proteostasis Therapeutics by 32.2% in the fourth quarter. Marshall Wace LLP now owns 442,836 shares of the company’s stock valued at $5,429,000 after buying an additional 107,866 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Proteostasis Therapeutics during the fourth quarter valued at $240,000. Hillhouse Capital Management Ltd. acquired a new position in shares of Proteostasis Therapeutics during the third quarter valued at $11,907,000. Rock Springs Capital Management LP boosted its position in shares of Proteostasis Therapeutics by 8.4% in the third quarter. Rock Springs Capital Management LP now owns 450,000 shares of the company’s stock valued at $7,016,000 after buying an additional 35,000 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Proteostasis Therapeutics during the third quarter valued at $395,000. Institutional investors and hedge funds own 67.71% of the company’s stock.

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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