Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Passes Above 200-Day Moving Average of $0.00

Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTNGet Rating) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.00 and traded as high as $0.27. Palatin Technologies shares last traded at $0.27, with a volume of 448,770 shares.

Palatin Technologies Stock Performance

The firm has a market capitalization of $61.40 million, a P/E ratio of -1.77 and a beta of 0.79.

Palatin Technologies (NYSEAMERICAN:PTNGet Rating) last issued its quarterly earnings data on Tuesday, May 17th. The biopharmaceutical company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.58 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. As a group, research analysts forecast that Palatin Technologies, Inc. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Palatin Technologies

Hedge funds have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd acquired a new stake in Palatin Technologies during the 4th quarter worth approximately $29,000. Commonwealth Equity Services LLC increased its position in shares of Palatin Technologies by 104.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 119,745 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 61,080 shares during the last quarter. State Street Corp increased its position in shares of Palatin Technologies by 8.2% in the 1st quarter. State Street Corp now owns 757,455 shares of the biopharmaceutical company’s stock valued at $349,000 after purchasing an additional 57,440 shares during the last quarter. Connective Portfolio Management LLC purchased a new stake in shares of Palatin Technologies in the 1st quarter valued at approximately $1,422,000. Finally, Vanguard Group Inc. increased its position 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 purchasing an additional 48,812 shares during the last quarter. 8.79% of the stock is currently owned by institutional investors and hedge funds.

About Palatin Technologies

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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.

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