PureTech Health (NASDAQ:PRTC) Trading Down 3.8% – Here’s What Happened

Shares of PureTech Health plc (NASDAQ:PRTC) fell 3.8% during mid-day trading on Friday . The stock traded as low as $22.50 and last traded at $22.50. 2,784 shares changed hands during trading, a decline of 33% from the average session volume of 4,174 shares. The stock had previously closed at $23.39.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRTC. Leerink Partnrs raised PureTech Health to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners started coverage on PureTech Health in a research note on Monday, September 9th. They issued an “outperform” rating and a $45.00 price objective for the company.

PureTech Health Stock Down 5.0 %

The stock has a 50 day moving average price of $20.75 and a two-hundred day moving average price of $23.18.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PureTech Health stock. Birch Hill Investment Advisors LLC bought a new position in shares of PureTech Health plc (NASDAQ:PRTC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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 at the end of the most recent reporting period. 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.