PureTech Health plc (NASDAQ:PRTC) Short Interest Up 18.9% in October

PureTech Health plc (NASDAQ:PRTC) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 6,300 shares, a growth of 18.9% from the October 15th total of 5,300 shares. Based on an average daily volume of 5,200 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Ratings Changes

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

Institutional Trading of PureTech Health

An institutional investor recently bought a new position in PureTech Health stock. Birch Hill Investment Advisors LLC purchased a new stake in PureTech Health plc (NASDAQ:PRTC) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 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 as of its most recent filing with the SEC. Institutional investors and hedge funds own 0.04% of the company’s stock.

PureTech Health Stock Up 4.1 %

Shares of PRTC traded up $0.89 during midday trading on Friday, reaching $22.82. 3,509 shares of the stock were exchanged, compared to its average volume of 4,806. PureTech Health has a twelve month low of $17.08 and a twelve month high of $34.00. The business’s 50-day moving average price is $20.41 and its 200 day moving average price is $23.51.

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.