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

PureTech Health plc (NASDAQ:PRTC) shares gapped down before the market opened on Tuesday . The stock had previously closed at $20.50, but opened at $19.24. PureTech Health shares last traded at $21.20, with a volume of 8,433 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PRTC. Leerink Partners initiated coverage on PureTech Health in a research report on Monday, September 9th. They issued an “outperform” rating and a $45.00 target price for the company. Leerink Partnrs upgraded PureTech Health to a “strong-buy” rating in a report on Monday, September 9th.

PureTech Health Price Performance

The business’s fifty day simple moving average is $20.92 and its 200 day simple moving average is $24.30.

Institutional Trading of PureTech Health

A hedge fund recently bought a new stake in PureTech Health stock. AWM Investment Company Inc. bought a new stake in PureTech Health plc (NASDAQ:PRTC) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,900 shares of the company’s stock, valued at approximately $197,000. 0.04% of the stock is currently 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.