JPMorgan Chase & Co. boosted its stake in shares of Proteostasis Therapeutics, Inc. (NASDAQ:PTI) by 120.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 378,368 shares of the company’s stock after buying an additional 206,811 shares during the period. JPMorgan Chase & Co. owned approximately 1.51% of Proteostasis Therapeutics worth $2,959,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. raised its position in shares of Proteostasis Therapeutics by 66.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 75,000 shares of the company’s stock valued at $587,000 after buying an additional 30,000 shares during the period. TD Asset Management Inc. bought a new position in shares of Proteostasis Therapeutics during the first quarter valued at approximately $199,000. Oxford Asset Management bought a new position in shares of Proteostasis Therapeutics during the first quarter valued at approximately $185,000. Russell Investments Group Ltd. bought a new position in shares of Proteostasis Therapeutics during the first quarter valued at approximately $100,000. Finally, Bank of New York Mellon Corp raised its position in shares of Proteostasis Therapeutics by 17.3% in the first quarter. Bank of New York Mellon Corp now owns 34,964 shares of the company’s stock valued at $273,000 after buying an additional 5,153 shares during the period. 78.74% of the stock is owned by institutional investors and hedge funds.
Shares of Proteostasis Therapeutics, Inc. (NASDAQ:PTI) traded up 0.91% on Tuesday, hitting $2.22. 121,390 shares of the company traded hands. The firm’s 50-day moving average is $3.99 and its 200 day moving average is $7.92. The firm’s market capitalization is $55.59 million. Proteostasis Therapeutics, Inc. has a 1-year low of $2.16 and a 1-year high of $20.63.
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Several research analysts have commented on PTI shares. Zacks Investment Research lowered shares of Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Proteostasis Therapeutics in a report on Friday, June 30th.
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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