PureTech Health (NASDAQ:PRTC) Trading Down 0.7% – Here’s Why

PureTech Health PLC Sponsored ADR (NASDAQ:PRTCGet Free Report) shares dropped 0.7% during trading on Tuesday . The company traded as low as $16.91 and last traded at $16.70. Approximately 900 shares traded hands during trading, a decline of 54% from the average daily volume of 1,977 shares. The stock had previously closed at $16.81.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of PureTech Health in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

View Our Latest Analysis on PureTech Health

PureTech Health Price Performance

The firm’s 50-day simple moving average is $17.09 and its 200-day simple moving average is $17.60.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Persistent Asset Partners Ltd bought a new position in shares of PureTech Health during the 2nd quarter worth $29,000. Diadema Partners LP bought a new stake in shares of PureTech Health in the second quarter valued at about $126,000. Pentwater Capital Management LP lifted its stake in PureTech Health by 39.2% in the first quarter. Pentwater Capital Management LP now owns 33,560 shares of the company’s stock worth $664,000 after acquiring an additional 9,449 shares during the period. Finally, Lansdowne Partners UK LLP bought a new position in PureTech Health during the 3rd quarter worth about $260,973,000. 0.04% of the stock is currently owned by hedge funds and other institutional investors.

PureTech Health Company Profile

(Get Free Report)

PureTech Health plc, engages in the development and commercialization of biotechnology and pharmaceutical solutions in the United States. The company is developing LYT-100, which is under Phase 2 stage, to treat idiopathic pulmonary fibrosis (IPF); and LYT-200, a IgG4 monoclonal antibody, currently under Phase 1/2 stage, targeting galectin-9 for treating solid tumors and hematological malignancies.

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