Palatin Technologies (PINK:PTNT) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Palatin Technologies shares surpassed their 200-day moving average during trading, indicating a potential positive trend in the stock price.
• Recently, Two Sigma Securities LLC acquired a new position in Palatin Technologies, purchasing 35,615 shares valued at approximately $40,000.
• The company's lead product, Vyleesi, targets premenopausal women with hypoactive sexual desire disorder, highlighting its focus on specific therapeutic developments.

Palatin Technologies, Inc. (PINK:PTNT - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.49 and traded as high as $7.78. Palatin Technologies shares last traded at $7.20, with a volume of 7,358 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on shares of Palatin Technologies in a report on Tuesday, May 20th. They issued a "sell" rating on the stock.

Palatin Technologies Price Performance

The firm's fifty day simple moving average is $4.86 and its 200 day simple moving average is $21.08. The company has a market capitalization of $145.66 million, a PE ratio of -3.61 and a beta of 0.87.

Institutional Trading of Palatin Technologies

An institutional investor recently bought a new position in Palatin Technologies stock. Squarepoint Ops LLC purchased a new position in shares of Palatin Technologies, Inc. (PINK:PTNT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,788 shares of the biopharmaceutical company's stock, valued at approximately $34,000. Squarepoint Ops LLC owned approximately 0.16% of Palatin Technologies as of its most recent SEC filing. Institutional investors own 11.50% of the company's stock.

Palatin Technologies Company Profile

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.