Proteostasis Therapeutics (PTI) Downgraded to Strong Sell at ValuEngine

Proteostasis Therapeutics (NASDAQ:PTI) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Tuesday.

Several other research firms also recently commented on PTI. Zacks Investment Research upgraded shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Proteostasis Therapeutics in a research report on Tuesday, December 19th. Royal Bank of Canada assumed coverage on shares of Proteostasis Therapeutics in a research report on Friday, March 9th. They set an “outperform” rating and a $11.00 price objective for the company. Robert W. Baird lifted their price objective on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Finally, Leerink Swann lifted their price objective on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $13.45.

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Proteostasis Therapeutics (NASDAQ PTI) traded down $1.83 during trading hours on Tuesday, hitting $5.16. 10,867,928 shares of the company’s stock traded hands, compared to its average volume of 2,187,594. The firm has a market capitalization of $251.38, a P/E ratio of -2.20 and a beta of 6.66. Proteostasis Therapeutics has a fifty-two week low of $1.41 and a fifty-two week high of $13.16.

Several institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in shares of Proteostasis Therapeutics by 53.5% during the 4th quarter. Jennison Associates LLC now owns 3,178,432 shares of the company’s stock worth $18,530,000 after purchasing an additional 1,107,496 shares during the last quarter. RTW Investments LP purchased a new stake in shares of Proteostasis Therapeutics during the 4th quarter worth $8,745,000. JPMorgan Chase & Co. lifted its position in shares of Proteostasis Therapeutics by 425.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,602 shares of the company’s stock worth $2,361,000 after purchasing an additional 910,550 shares during the last quarter. Millennium Management LLC lifted its position in shares of Proteostasis Therapeutics by 434.2% during the 4th quarter. Millennium Management LLC now owns 953,513 shares of the company’s stock worth $5,559,000 after purchasing an additional 775,019 shares during the last quarter. Finally, Bain Capital Public Equity Management LLC lifted its position in shares of Proteostasis Therapeutics by 124.9% during the 4th quarter. Bain Capital Public Equity Management LLC now owns 828,916 shares of the company’s stock worth $4,833,000 after purchasing an additional 460,326 shares during the last quarter. 70.48% of the stock is owned by institutional investors and hedge funds.

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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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