PureTech Health (NASDAQ:PRTC) Shares Down 3.8% – Time to Sell?

PureTech Health plc (NASDAQ:PRTC) shares were down 3.8% during trading on Friday . The company traded as low as $22.50 and last traded at $22.50. Approximately 2,784 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 4,174 shares. The stock had previously closed at $23.39.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PRTC. Leerink Partners began coverage on PureTech Health in a research report on Monday, September 9th. They set an “outperform” rating and a $45.00 price target on the stock. Leerink Partnrs raised shares of PureTech Health to a “strong-buy” rating in a research report on Monday, September 9th.

PureTech Health Trading Down 5.0 %

The company’s fifty day moving average price is $20.88 and its 200-day moving average price is $23.12.

Institutional Investors Weigh In On PureTech Health

A hedge fund recently bought a new stake in PureTech Health stock. Birch Hill Investment Advisors LLC purchased a new position in PureTech Health plc (NASDAQ:PRTC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 302,000 shares of the company’s stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned approximately 1.26% of PureTech Health at the end of the most recent reporting period. Institutional investors and hedge funds own 0.04% of the company’s stock.

PureTech Health Company Profile

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.