PureTech Health (NASDAQ:PRTC) Shares Gap Up – Here’s Why

PureTech Health plc (NASDAQ:PRTC) shares gapped up before the market opened on Friday . The stock had previously closed at $19.56, but opened at $20.25. PureTech Health shares last traded at $21.30, with a volume of 1,758 shares.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRTC. Leerink Partners began coverage on PureTech Health in a research report on Monday, September 9th. They set an “outperform” rating and a $45.00 target price on the stock. Leerink Partnrs upgraded PureTech Health to a “strong-buy” rating in a research report on Monday, September 9th.

PureTech Health Price Performance

The company has a 50-day moving average price of $21.06 and a 200-day moving average price of $24.68.

Institutional Trading of PureTech Health

A hedge fund recently bought a new stake in PureTech Health stock. Birch Hill Investment Advisors LLC acquired a new stake in PureTech Health plc (NASDAQ:PRTC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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. Hedge funds and other institutional investors own 0.04% of the company’s stock.

About PureTech Health

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.