Palatin Technologies, Inc. (NYSEAMERICAN:PTN – Get Rating) was the recipient of a large decline in short interest in May. As of May 31st, there was short interest totalling 2,030,000 shares, a decline of 16.1% from the May 15th total of 2,420,000 shares. Based on an average trading volume of 831,400 shares, the short-interest ratio is presently 2.4 days. Currently, 1.0% of the company’s stock are short sold.
Several large investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd purchased a new position in Palatin Technologies during the fourth quarter worth about $29,000. Commonwealth Equity Services LLC raised its stake in shares of Palatin Technologies by 104.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 119,745 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 61,080 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Palatin Technologies by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,559,564 shares of the biopharmaceutical company’s stock valued at $4,398,000 after buying an additional 48,812 shares during the period. State Street Corp boosted its stake in shares of Palatin Technologies by 8.2% in the first quarter. State Street Corp now owns 757,455 shares of the biopharmaceutical company’s stock valued at $349,000 after buying an additional 57,440 shares in the last quarter. Finally, Morgan Stanley grew its holdings in Palatin Technologies by 25.8% during the third quarter. Morgan Stanley now owns 151,558 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 31,084 shares during the period. 8.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of PTN stock opened at $0.32 on Friday. The stock has a market capitalization of $74.14 million, a PE ratio of -2.13 and a beta of 0.79. Palatin Technologies has a fifty-two week low of $0.26 and a fifty-two week high of $0.96.
Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Palatin Technologies in a research report on Tuesday, March 8th.
Palatin Technologies Company Profile (Get Rating)
Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.
- Get a free copy of the StockNews.com research report on Palatin Technologies (PTN)
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