PureTech Health plc (NASDAQ:PRTC – Get Rating) was the target of a significant growth in short interest in August. As of August 15th, there was short interest totalling 4,700 shares, a growth of 30.6% from the July 31st total of 3,600 shares. Based on an average daily trading volume, of 4,100 shares, the days-to-cover ratio is currently 1.1 days.
Analyst Ratings Changes
PRTC has been the subject of several research reports. Piper Sandler raised their target price on PureTech Health from $37.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, August 25th. SVB Leerink decreased their target price on PureTech Health from $70.00 to $66.00 and set an "outperform" rating for the company in a research note on Wednesday, June 15th.
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Institutional Investors Weigh In On PureTech Health
A hedge fund recently raised its stake in PureTech Health stock. AWM Investment Company Inc. grew its stake in shares of PureTech Health plc (NASDAQ:PRTC – Get Rating) by 2,100.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 660,000 shares of the company's stock after purchasing an additional 630,000 shares during the period. AWM Investment Company Inc. owned about 2.32% of PureTech Health worth $2,513,000 as of its most recent SEC filing. Institutional investors and hedge funds own 2.32% of the company's stock.
PureTech Health Trading Down 4.5 %
PRTC stock traded down $1.35 during trading hours on Tuesday, hitting $28.65. 200 shares of the stock traded hands, compared to its average volume of 5,304. PureTech Health has a one year low of $18.15 and a one year high of $54.39. The company has a current ratio of 2.54, a quick ratio of 2.22 and a debt-to-equity ratio of 0.02. The stock has a 50-day simple
moving average of $25.13 and a 200 day simple moving average of $25.40.
About PureTech Health
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PureTech Health plc, a clinical-stage biotherapeutics company, discovers, develops, and commercializes medicines for inflammatory, fibrotic and immunological, intractable cancers, lymphatic and gastrointestinal, neurological and neuropsychological, and other diseases in the United States. The company offers KarXT targeting muscarinic acetylcholine receptors to treat schizophrenia and psychosis in Alzheimer's disease; a regenerative biology platform for androgenetic alopecia, epithelial ageing, and other medical conditions; an immunomodulation platform to treat chronic and acute inflammatory disorders; oral therapies based on defined consortia of bacteria is isolated from the human microbiome; and therapies to treat cognitive dysfunction associated with depression, multiple sclerosis, post COVID and ICU, and cancer related conditions.
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