Research analysts at Cantor Fitzgerald initiated coverage on shares of Polarityte (NASDAQ:COOL) in a report released on Wednesday. The brokerage set an “overweight” rating and a $70.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 244.83% from the stock’s previous close.
Separately, ValuEngine raised shares of Polarityte from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd.
Polarityte (COOL) opened at $20.30 on Wednesday. Polarityte has a 1 year low of $4.84 and a 1 year high of $32.63.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in Polarityte by 41.3% in the 2nd quarter. Wells Fargo & Company MN now owns 5,650 shares of the company’s stock valued at $131,000 after acquiring an additional 1,650 shares in the last quarter. Ardsley Advisory Partners bought a new position in Polarityte in the 4th quarter valued at about $327,000. Advisor Group Inc. lifted its position in Polarityte by 133.6% in the 4th quarter. Advisor Group Inc. now owns 49,180 shares of the company’s stock valued at $1,141,000 after acquiring an additional 28,130 shares in the last quarter. Gilder Gagnon Howe & Co. LLC bought a new position in Polarityte in the 4th quarter valued at about $1,507,000. Finally, Millennium Management LLC bought a new position in Polarityte in the 4th quarter valued at about $3,057,000. 8.44% of the stock is currently owned by institutional investors and hedge funds.
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Polarityte Company Profile
PolarityTE, Inc, formerly Majesco Entertainment Company, is the owner of patent applications and know-how related to regenerative medicine and tissue engineering, as well as software applications used in diagnosis and treatment related to regenerative medicine. The Company seeks to develop and obtain regulatory approval for technology that will utilize a patient’s own tissue substrates for the regeneration of skin, bone, muscle, cartilage, fat, blood vessels and nerves.
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