Polarityte (NASDAQ:PTE) Stock Price Up 7.7%
Shares of Polarityte Inc (NASDAQ:PTE) rose 7.7% during trading on Friday . The stock traded as high as $3.10 and last traded at $3.06, approximately 215,400 shares were traded during mid-day trading. A decline of 37% from the average daily volume of 343,903 shares. The stock had previously closed at $2.84.
PTE has been the subject of several recent research reports. Northland Securities set a $50.00 price target on shares of Polarityte and gave the company a “buy” rating in a research report on Monday, August 26th. ValuEngine upgraded shares of Polarityte from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Oppenheimer set a $14.00 price objective on shares of Polarityte and gave the company a “buy” rating in a report on Wednesday, August 21st. Zacks Investment Research lowered shares of Polarityte from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Cantor Fitzgerald set a $50.00 price objective on shares of Polarityte and gave the company a “buy” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Polarityte presently has a consensus rating of “Buy” and a consensus target price of $23.13.
The stock’s fifty day moving average price is $3.83 and its two-hundred day moving average price is $6.10. The firm has a market capitalization of $73.34 million, a price-to-earnings ratio of -0.63 and a beta of 1.45. The company has a current ratio of 6.72, a quick ratio of 6.68 and a debt-to-equity ratio of 0.06.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bernardo Wealth Planning LLC acquired a new stake in Polarityte during the 2nd quarter worth $68,000. Marshall Wace North America L.P. acquired a new stake in Polarityte during the 1st quarter worth $73,000. Cubist Systematic Strategies LLC acquired a new stake in Polarityte during the 2nd quarter worth $86,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Polarityte during the 2nd quarter worth $89,000. Finally, Marshall Wace LLP raised its stake in Polarityte by 50.9% during the 2nd quarter. Marshall Wace LLP now owns 17,881 shares of the company’s stock worth $102,000 after acquiring an additional 6,031 shares in the last quarter. Institutional investors and hedge funds own 41.51% of the company’s stock.
About Polarityte (NASDAQ:PTE)
PolarityTE, Inc, a biotechnology and regenerative biomaterials company, focuses on discovering, designing, and developing 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 and Contract Services.
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