Palatin Technologies (NYSEAMERICAN:PTN) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as high as $0.94. Palatin Technologies shares last traded at $0.91, with a volume of 451,257 shares.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lowered their price target on Palatin Technologies from $17.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th.

Palatin Technologies Stock Up 0.9 %

The stock has a market capitalization of $23.74 million, a price-to-earnings ratio of -0.59 and a beta of 0.87.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PTN. HB Wealth Management LLC grew its holdings in Palatin Technologies by 86.3% in the 4th quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 51,200 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Palatin Technologies during the 3rd quarter valued at $51,000. Two Sigma Securities LLC bought a new stake in shares of Palatin Technologies during the 4th quarter valued at $40,000. Squarepoint Ops LLC bought a new stake in shares of Palatin Technologies during the 4th quarter valued at $34,000. Finally, XTX Topco Ltd lifted its position in shares of Palatin Technologies by 98.6% during the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 14,432 shares during the period. 11.50% of the stock is owned by institutional investors and hedge funds.

About Palatin Technologies

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.