Palatin Technologies (NYSEAMERICAN:PTN) Trading 1.7% Higher – Still a Buy?

Palatin Technologies (NYSEAMERICAN:PTN)’s share price traded up 1.7% during mid-day trading on Tuesday . The stock traded as high as $8.77 and last traded at $8.62. Approximately 6,101 shares traded hands during trading, a decline of 71% from the average session volume of 20,820 shares. The stock had previously closed at $8.48.

Palatin Technologies Price Performance

The business’s fifty day simple moving average is $12.33 and its 200 day simple moving average is $16.78.

Palatin Technologies (NYSEAMERICAN:PTN) last announced its earnings results on Wednesday, May 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.87. The business had revenue of $3.92 million during the quarter, compared to analyst estimates of $1.28 million.

Institutional Trading of Palatin Technologies

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new position in shares of Palatin Technologies in the 4th quarter worth about $2,195,000. Logos Global Management LP bought a new position in Palatin Technologies in the fourth quarter worth about $2,153,000. RA Capital Management L.P. acquired a new position in Palatin Technologies in the fourth quarter valued at approximately $1,077,000. Perceptive Advisors LLC bought a new position in shares of Palatin Technologies during the fourth quarter valued at approximately $1,077,000. Finally, Superstring Capital Management LP acquired a new stake in shares of Palatin Technologies during the 4th quarter worth approximately $522,000. Institutional investors own 11.50% of the company’s stock.

Palatin Technologies Company Profile

Palatin Technologies, Inc (NYSE American: PTN) is a clinical-stage biopharmaceutical company focused on the development of receptor-targeted peptide therapeutics. The company concentrates on designing and advancing peptide- and small-molecule programs that selectively target specific receptor systems with the goal of treating endocrine, inflammatory and cardiovascular-related disorders. Palatin’s approach emphasizes receptor specificity to improve therapeutic profiles and reduce off-target effects commonly seen with less selective agents.

Palatin’s activities center on preclinical and clinical development, regulatory interaction and the pursuit of strategic partnerships or licensing arrangements to support late-stage development and commercialization.