PureTech Health plc (NASDAQ:PRTC) sees sharp drop in short-term interest

PureTech Health plc (NASDAQ: PRTC – Get a rating) was the target of a significant fall in short rates during the month of August. As of August 31, there was short interest totaling 500 shares, down 89.4% from the total of 4,700 shares as of August 15. Based on an average trading volume of 3,700 shares, the short-term interest rate ratio is currently 0.1 day.

Wall Street analysts predict growth

Several equity research analysts have recently released reports on the stock. Piper Sandler raised her price target on PureTech Health shares from $37.00 to $44.00 and gave the stock an “overweight” rating in a Thursday, August 25 research report. SVB Leerink cut its price target on PureTech Health shares from $70.00 to $66.00 and set an “outperform” rating on the stock in a Wednesday, June 15 research report.

PureTech Health Price Performance

PRTC stock traded down $0.45 at midday Tuesday, hitting $29.05. 73 shares of the company were traded, against an average volume of 1,880. The company has a current ratio of 2.54, a quick ratio of 2.22 and a leverage ratio of 0.02. PureTech Health has a fifty-two week minimum of $18.15 and a fifty-two week maximum of $54.39. The company has a 50-day moving average price of $26.77 and a two-hundred-day moving average price of $25.06.

Institutional entries and exits

An institutional investor recently upgraded its position in PureTech Health stock. AWM Investment Company Inc. removed its position in shares of PureTech Health plc (NASDAQ: PRTC – Get a rating) by 2,100.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor held 660,000 shares of the company after purchasing an additional 630,000 shares during the period. AWM Investment Company Inc. owned approximately 2.32% of PureTech Health worth $2,513,000 when it last filed with the SEC. 2.32% of the shares are held by hedge funds and other institutional investors.

Company Profile PureTech Health

(Get a rating)

PureTech Health plc, a clinical-stage biotherapeutics company, discovers, develops and markets drugs for inflammatory, fibrotic and immunological, incurable, lymphatic and gastrointestinal, neurological and neuropsychological cancers, and other diseases in the United States. The Company offers KarXT targeting muscarinic acetylcholine receptors to treat schizophrenia and psychosis in Alzheimer’s disease; a regenerative biology platform for androgenetic alopecia, epithelial aging and other medical conditions; an immunomodulation platform to treat chronic and acute inflammatory disorders; oral therapies based on defined consortia of bacteria are isolated from the human microbiome; and therapies to treat cognitive dysfunctions associated with depression, multiple sclerosis, post-COVID and critical care, and cancer-related conditions.

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