PolarityTE, Inc. (NASDAQ:PTE – Get Rating)'s share price was down 6.3% during mid-day trading on Tuesday . The company traded as low as $0.42 and last traded at $0.43. Approximately 19,457 shares were traded during trading, a decline of 72% from the average daily volume of 69,516 shares. The stock had previously closed at $0.46.
Wall Street Analyst Weigh In
Separately, Northland Securities dropped their price target on shares of PolarityTE from $1.25 to $1.00 and set an "outperform" rating on the stock in a research report on Wednesday, December 28th.
Get PolarityTE alerts:PolarityTE Stock Down 6.3 %
The stock has a market capitalization of $3.15 million, a PE ratio of -0.07 and a beta of 1.19. The stock's 50-day moving average is $0.61 and its 200 day moving average is $0.69.
Institutional Trading of PolarityTE
A number of institutional investors and hedge funds have recently modified their holdings of PTE. LPL Financial LLC acquired a new position in PolarityTE during the 4th quarter valued at $189,000. Renaissance Technologies LLC raised its stake in shares of PolarityTE by 55.2% in 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. Prudential Financial Inc. acquired a new position in shares of PolarityTE in the 2nd quarter valued at $25,000. Finally, First Republic Investment Management Inc. grew its holdings in shares of PolarityTE by 554.6% in the 1st quarter. First Republic Investment Management Inc. now owns 108,662 shares of the company's stock worth $27,000 after purchasing an additional 92,062 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.
PolarityTE Company Profile
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PolarityTE, Inc is a biotechnology company developing and commercializing regenerative tissue products and biomaterials. The firm products include SkinTE Cryo, SkinTE POC, PTE 11000, OsteoTE and Real Time Assistant. Its SkinTE product is commercially available for the repair, reconstruction, replacement, and supplementation of skin in patients who have a need for treatment of acute or chronic wounds, burns, surgical reconstruction events, scar revision, or removal of dysfunctional skin grafts.
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