PureTech Health plc (NASDAQ:PRTC) Short Interest Update

PureTech Health plc (NASDAQ:PRTC) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 5,300 shares, a decrease of 24.3% from the September 30th total of 7,000 shares. Based on an average daily volume of 4,800 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Investors Weigh In On PureTech Health

A hedge fund recently bought a new stake in PureTech Health stock. Birch Hill Investment Advisors LLC purchased a new stake in PureTech Health plc (NASDAQ:PRTC) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 302,000 shares of the company’s stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned approximately 1.26% of PureTech Health as of its most recent SEC filing. Institutional investors and hedge funds own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Leerink Partners assumed coverage on PureTech Health in a research note on Monday, September 9th. They set an “outperform” rating and a $45.00 target price for the company. Leerink Partnrs raised shares of PureTech Health to a “strong-buy” rating in a research note on Monday, September 9th.

PureTech Health Trading Down 2.9 %

Shares of NASDAQ PRTC traded down $0.59 during trading hours on Friday, hitting $19.99. The company had a trading volume of 6,310 shares, compared to its average volume of 4,075. PureTech Health has a 1-year low of $17.08 and a 1-year high of $34.00. The firm’s 50 day moving average is $20.75 and its 200-day moving average is $24.12.

PureTech Health Company Profile

PureTech Health plc, engages in the development and commercialization of biotechnology and pharmaceutical solutions in the United States. The company is developing LYT-100, which is under Phase 2 stage, to treat idiopathic pulmonary fibrosis (IPF); and LYT-200, a IgG4 monoclonal antibody, currently under Phase 1/2 stage, targeting galectin-9 for treating solid tumors and hematological malignancies.