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.

TRADEMARK VIOLATION NOTICE: This story was first posted by sleekmoney and is the property of of sleekmoney. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://sleekmoney.com/proteostasis-therapeutics-inc-pti-sees-significant-increase-in-short-interest/1829071.html.

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.

5 Day Chart for NASDAQ:PTI

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/proteostasis-therapeutics-inc-pti-sees-significant-increase-in-short-interest/1829071.html

Receive News & Ratings for Proteostasis Therapeutics Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proteostasis Therapeutics Inc and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *