Proteostasis Therapeutics Inc (PTI) Sees Significant Increase in Short Interest
Proteostasis Therapeutics Inc (NASDAQ:PTI) was the target of a significant growth in short interest in the month of April. As of April 28th, there was short interest totalling 536,953 shares, a growth of 26.0% from the April 13th total of 426,193 shares. Based on an average trading volume of 279,237 shares, the short-interest ratio is currently 1.9 days.
Shares of Proteostasis Therapeutics (NASDAQ:PTI) traded down 4.31% during mid-day trading on Wednesday, hitting $3.66. 32,935 shares of the stock were exchanged. The stock’s 50-day moving average price is $6.50 and its 200-day moving average price is $10.81. Proteostasis Therapeutics has a 52-week low of $3.60 and a 52-week high of $20.63. The company’s market cap is $91.59 million.
A number of brokerages have recently issued reports on PTI. Zacks Investment Research cut shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, January 27th. Robert W. Baird reissued an “outperform” rating and issued a $13.00 price objective on shares of Proteostasis Therapeutics in a research note on Sunday, April 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Proteostasis Therapeutics in a research note on Tuesday, January 24th.
In other Proteostasis Therapeutics news, insider Fmr Llc sold 25,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $12.94, for a total value of $323,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 257,300 shares of company stock worth $3,451,694 over the last quarter. Insiders own 29.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Hillhouse Capital Management Ltd. purchased a new position in Proteostasis Therapeutics during the third quarter valued at about $11,907,000. MARSHALL WACE ASIA Ltd purchased a new position in Proteostasis Therapeutics during the first quarter valued at about $5,946,000. Marshall Wace North America L.P. purchased a new position in Proteostasis Therapeutics during the first quarter valued at about $5,946,000. FMR LLC boosted its position in Proteostasis Therapeutics by 30.4% in the first quarter. FMR LLC now owns 2,878,804 shares of the company’s stock valued at $22,513,000 after buying an additional 671,936 shares in the last quarter. Finally, NEA Management Company LLC boosted its position in Proteostasis Therapeutics by 14.9% in the third quarter. NEA Management Company LLC now owns 3,556,778 shares of the company’s stock valued at $55,450,000 after buying an additional 461,538 shares in the last quarter. Hedge funds and other institutional investors own 67.71% of the company’s stock.
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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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