PolarityTE, Inc. (NASDAQ:PTE – Get Rating) – Stock analysts at Northland Capmk boosted their FY2023 earnings estimates for PolarityTE in a research report issued to clients and investors on Wednesday, March 29th. Northland Capmk analyst C. Byrnes now forecasts that the company will post earnings of ($2.10) per share for the year, up from their previous estimate of ($3.70). The consensus estimate for PolarityTE's current full-year earnings is ($4.60) per share.
Get PolarityTE alerts:Separately, Northland Securities decreased their target price on shares of PolarityTE from $1.25 to $1.00 and set an "outperform" rating for the company in a report on Wednesday, December 28th.
PolarityTE Stock Performance
Shares of PolarityTE stock opened at $0.50 on Monday. The stock has a market capitalization of $3.69 million, a PE ratio of -0.08 and a beta of 1.21. PolarityTE has a 52-week low of $0.41 and a 52-week high of $12.00. The company has a 50-day simple moving average of $0.73 and a two-hundred day simple moving average of $0.73.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. purchased a new position in shares of PolarityTE during the second quarter valued at approximately $25,000. Renaissance Technologies LLC raised its holdings in shares of PolarityTE by 55.2% during the third quarter. Renaissance Technologies LLC now owns 67,222 shares of the company's stock valued at $58,000 after purchasing an additional 23,900 shares during the last quarter. First Republic Investment Management Inc. raised its holdings in shares of PolarityTE by 554.6% during the first quarter. First Republic Investment Management Inc. now owns 108,662 shares of the company's stock valued at $27,000 after purchasing an additional 92,062 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in PolarityTE during the fourth quarter valued at approximately $189,000. 11.75% of the stock is owned by hedge funds and other institutional investors.
About PolarityTE
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PolarityTE, Inc is a biotechnology company developing and commercializing regenerative tissue products and biomaterials. The firm products include SkinTE Cryo, SkinTE POC, PTE 11000, OsteoTE and Real Time Assistant. Its SkinTE product is commercially available for the repair, reconstruction, replacement, and supplementation of skin in patients who have a need for treatment of acute or chronic wounds, burns, surgical reconstruction events, scar revision, or removal of dysfunctional skin grafts.
Further Reading
- Get a free copy of the StockNews.com research report on PolarityTE (PTE)
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