PureTech Health (NASDAQ:PRTC) Sees Strong Trading Volume – Still a Buy?

PureTech Health plc (NASDAQ:PRTC) shares saw unusually-strong trading volume on Thursday . Approximately 11,348 shares changed hands during trading, an increase of 165% from the previous session’s volume of 4,290 shares.The stock last traded at $21.00 and had previously closed at $21.05.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Leerink Partners started coverage on shares of PureTech Health in a research report on Monday, September 9th. They set an “outperform” rating and a $45.00 price target on the stock. Leerink Partnrs upgraded PureTech Health to a “strong-buy” rating in a report on Monday, September 9th.

PureTech Health Stock Down 3.8 %

The stock’s 50 day moving average is $21.30 and its 200 day moving average is $22.34.

Hedge Funds Weigh In On 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 second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 reporting period. 0.04% of the stock is owned by hedge funds and other institutional investors.

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.