Polarityte (NASDAQ:PTE) Stock Price Up 6.1%

Polarityte Inc (NASDAQ:PTE)’s stock price rose 6.1% during trading on Thursday . The stock traded as high as $1.03 and last traded at $1.00, approximately 209,800 shares changed hands during trading. A decline of 64% from the average daily volume of 581,556 shares. The stock had previously closed at $0.94.

PTE has been the subject of several research analyst reports. Cantor Fitzgerald reiterated a “buy” rating and set a $11.00 target price on shares of Polarityte in a research note on Wednesday, March 18th. Zacks Investment Research upgraded shares of Polarityte from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a research note on Friday, February 28th. Finally, Northland Securities restated a “buy” rating and issued a $20.00 price objective on shares of Polarityte in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $9.07.

The company’s fifty day moving average price is $1.32 and its two-hundred day moving average price is $2.68. The company has a current ratio of 3.23, a quick ratio of 3.20 and a debt-to-equity ratio of 0.08. The firm has a market cap of $36.11 million, a P/E ratio of -0.27 and a beta of 2.05.

In other news, Director Denver Lough sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $4.17, for a total value of $41,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President David B. Seaburg sold 16,333 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $3.02, for a total transaction of $49,325.66. Following the completion of the sale, the president now directly owns 372,701 shares in the company, valued at approximately $1,125,557.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,947 shares of company stock worth $256,679. 8.38% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of Polarityte by 75.0% in the 4th quarter. Barclays PLC now owns 15,668 shares of the company’s stock worth $41,000 after purchasing an additional 6,716 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Polarityte during the 1st quarter worth about $73,000. Cambridge Investment Research Advisors Inc. grew its holdings in Polarityte by 18.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 53,669 shares of the company’s stock worth $140,000 after acquiring an additional 8,351 shares during the last quarter. UBS Group AG grew its holdings in Polarityte by 61.9% during the 4th quarter. UBS Group AG now owns 23,924 shares of the company’s stock worth $63,000 after acquiring an additional 9,147 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Polarityte during the 1st quarter worth about $126,000. 28.45% of the stock is currently owned by institutional investors and hedge funds.

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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