PureTech Health plc (NASDAQ:PRTC) Sees Large Drop in Short Interest

PureTech Health plc (NASDAQ:PRTC - Get Free Report) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 5,300 shares, a drop 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.

PureTech Health Stock Performance

Shares of NASDAQ:PRTC traded down $0.59 during midday trading on Friday, reaching $19.99. The company's stock had a trading volume of 6,310 shares, compared to its average volume of 4,075. The business's fifty day simple moving average is $20.75 and its 200-day simple moving average is $24.09. PureTech Health has a fifty-two week low of $17.08 and a fifty-two week high of $34.00.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PRTC shares. Leerink Partnrs raised PureTech Health to a "strong-buy" rating in a research report on Monday, September 9th. Leerink Partners initiated coverage on PureTech Health in a research note on Monday, September 9th. They set an "outperform" rating and a $45.00 price objective for the company.

Institutional Trading of PureTech Health

An institutional investor recently bought a new position in PureTech Health stock. Birch Hill Investment Advisors LLC bought a new position in shares of PureTech Health plc (NASDAQ:PRTC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 302,000 shares of the company's stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned about 1.26% of PureTech Health at the end of the most recent quarter. 0.04% of the stock is owned by hedge funds and other institutional investors.

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.