PolarityTE, Inc. (NASDAQ:PTE – Get Rating) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 105,900 shares, a drop of 25.8% from the January 15th total of 142,800 shares. Approximately 1.7% of the company's shares are sold short. Based on an average daily trading volume, of 186,800 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analyst Weigh In

Separately, Northland Securities reduced their target price on shares of PolarityTE from $1.25 to $1.00 and set an "outperform" rating on the stock in a report on Wednesday, December 28th.

Hedge Funds Weigh In On PolarityTE

Hedge funds have recently made changes to their positions in the stock. LPL Financial LLC bought a new stake in PolarityTE in the fourth quarter valued at approximately $189,000. Renaissance Technologies LLC boosted 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 purchasing an additional 23,900 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of PolarityTE in the 2nd quarter valued at $25,000. Finally, First Republic Investment Management Inc. increased its position in shares of PolarityTE by 554.6% during the first quarter. First Republic Investment Management Inc. now owns 108,662 shares of the company's stock worth $27,000 after buying an additional 92,062 shares during the period. 11.75% of the stock is currently owned by institutional investors.

PolarityTE Trading Up 2.6 %

NASDAQ:PTE traded up $0.02 during trading hours on Tuesday, hitting $0.79. 3,442 shares of the company were exchanged, compared to its average volume of 61,101. The stock has a market capitalization of $5.71 million, a price-to-earnings ratio of -0.13 and a beta of 1.23. PolarityTE has a one year low of $0.61 and a one year high of $12.00. The company has a fifty day simple moving average of $0.75 and a 200 day simple moving average of $0.86.

PolarityTE Company Profile

(Get Rating)

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.

Further Reading

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