Palatin Technologies major shareholder Bvf Partners L. P/Il Sells 305,966 Shares (PTN)
Palatin Technologies (NYSE:PTN) major shareholder Bvf Partners L. P/Il unloaded 305,966 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $1.17, for a total transaction of $357,980.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Palatin Technologies (NYSE:PTN) traded down 6.14% during mid-day trading on Wednesday, hitting $1.07. 389,534 shares of the company’s stock traded hands. Palatin Technologies has a 1-year low of $0.51 and a 1-year high of $1.34. The stock has a 50-day moving average of $0.95 and a 200-day moving average of $0.74. The company’s market cap is $42.0 million.
Separately, analysts at Zacks upgraded shares of Palatin Technologies from an “underperform” rating to a “neutral” rating in a research note on Tuesday, December 3rd. They now have a $0.70 price target on the stock.
Palatin Technologies, Inc (NYSE:PTN) is a biopharmaceutical company engaged in the development of peptide, peptide mimetic and small molecule agonist compounds with a focus on melanocortin and natriuretic peptide receptor systems.
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