PureTech Health (NASDAQ:PRTC) Shares Up 2% – Here’s Why

PureTech Health PLC Sponsored ADR (NASDAQ:PRTC) shot up 2% on Thursday . The stock traded as high as $19.11 and last traded at $19.05. 1,237 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 2,999 shares. The stock had previously closed at $18.67.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of PureTech Health in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

PureTech Health Price Performance

The stock’s 50-day simple moving average is $17.44 and its 200-day simple moving average is $17.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lansdowne Partners UK LLP bought a new stake in shares of PureTech Health during the 3rd quarter worth $260,973,000. Pentwater Capital Management LP grew its position in PureTech Health by 50.0% during the third quarter. Pentwater Capital Management LP now owns 75,000 shares of the company’s stock valued at $1,388,000 after buying an additional 25,000 shares during the period. Diadema Partners LP purchased a new stake in PureTech Health during the second quarter worth about $126,000. Finally, Persistent Asset Partners Ltd bought a new stake in PureTech Health in the second quarter worth about $29,000. Hedge funds and other institutional investors own 0.04% of the company’s stock.

PureTech Health Company Profile

PureTech Health (NASDAQ: PRTC) is a clinical-stage biotherapeutics company focused on creating and developing first-in-class medicines across immunology, inflammation, oncology and neuroscience. The company operates through a model of incubating programs in-house and advancing selected assets into independent, value-creating entities. Its internal pipeline includes multiple clinical and preclinical candidates addressing fibrotic diseases, solid tumors and rare genetic disorders.

PureTech’s proprietary platform technologies span modalities such as monoclonal antibodies, small molecules and cell-based therapies.