Polarityte Inc (NASDAQ:COOL) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 981,455 shares, a growth of 46.2% from the February 15th total of 671,402 shares. Approximately 12.8% of the company’s shares are sold short. Based on an average daily volume of 170,577 shares, the days-to-cover ratio is currently 5.8 days.
In related news, major shareholder Barry C. Honig sold 1,400 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $17.88, for a total transaction of $25,032.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Barry C. Honig acquired 15,400 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $17.62 per share, with a total value of $271,348.00. The disclosure for this purchase can be found here. 59.91% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of COOL. Wells Fargo & Company MN grew 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 acquired a new position in Polarityte in the 4th quarter valued at about $327,000. Advisor Group Inc. grew 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 acquired a new position in Polarityte in the 4th quarter valued at about $1,507,000. Finally, Millennium Management LLC acquired a new position in Polarityte in the 4th quarter valued at about $3,057,000. 10.94% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on COOL shares. Cantor Fitzgerald started coverage on Polarityte in a research report on Wednesday, February 14th. They set an “overweight” rating and a $70.00 price objective for the company. ValuEngine raised Polarityte from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd.
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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