Palatin Technologies, Inc. (NYSEAMERICAN:PTN – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $1.95. Palatin Technologies shares last traded at $1.88, with a volume of 180,638 shares traded.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright decreased their target price on shares of Palatin Technologies from $70.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th.
Check Out Our Latest Analysis on PTN
Palatin Technologies Trading Down 2.6 %
Institutional Trading of Palatin Technologies
Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc purchased a new stake in shares of Palatin Technologies in the first quarter valued at about $41,000. UBS Group AG raised its stake in shares of Palatin Technologies by 115,168.0% during the 3rd quarter. UBS Group AG now owns 28,817 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 28,792 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Palatin Technologies by 388.0% in the 2nd quarter. Renaissance Technologies LLC now owns 226,900 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 180,400 shares during the period. Northern Trust Corp boosted its stake in shares of Palatin Technologies by 52.8% in the fourth quarter. Northern Trust Corp now owns 25,097 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 8,671 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Palatin Technologies during the 1st quarter worth $103,000. 11.50% of the stock is owned by hedge funds and other institutional investors.
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.
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