PolarityTE, Inc. (NASDAQ:PTE – Get Rating) saw a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 209,700 shares, a drop of 63.4% from the November 30th total of 573,600 shares. Based on an average daily volume of 214,700 shares, the short-interest ratio is presently 1.0 days. Currently, 3.3% of the company's shares are short sold.
Hedge Funds Weigh In On PolarityTE
A number of institutional investors have recently added to or reduced their stakes in PTE. Prudential Financial Inc. bought a new position in shares of PolarityTE during the second quarter valued at approximately $25,000. First Republic Investment Management Inc. increased its position in PolarityTE by 554.6% during the 1st quarter. First Republic Investment Management Inc. now owns 108,662 shares of the company's stock valued at $27,000 after buying an additional 92,062 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in PolarityTE by 55.2% during the 3rd quarter. Renaissance Technologies LLC now owns 67,222 shares of the company's stock valued at $58,000 after buying an additional 23,900 shares in the last quarter. Institutional investors own 11.75% of the company's stock.
Get PolarityTE alerts:Wall Street Analyst Weigh In
Separately, Northland Securities cut their price target on shares of PolarityTE from $1.25 to $1.00 and set an "outperform" rating for the company in a research report on Wednesday.
PolarityTE Stock Up 1.4 %
Shares of NASDAQ:PTE traded up $0.01 during trading on Thursday, hitting $0.71. The stock had a trading volume of 183,107 shares, compared to its average volume of 225,921. The firm's fifty day moving average is $0.72 and its 200 day moving average is $1.05. PolarityTE has a 12 month low of $0.61 and a 12 month high of $20.75.PolarityTE Company Profile
(Get Rating)
PolarityTE, Inc, a clinical stage biotechnology company, develops and commercializes a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine Products and Contract Services.
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