Palatin Technologies (NYSEAMERICAN:PTN) Stock Crosses Above 200 Day Moving Average - Should You Sell?

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. (NYSEAMERICAN:PTN - ) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 traded.

Palatin Technologies Price Performance

The firm's fifty day simple moving average is $0.24 and its 200 day simple moving average is $0.49. The company has a market capitalization of $187.27 million, a price-to-earnings ratio of -4.65 and a beta of 0.87.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Palatin Technologies stock. Two Sigma Securities LLC purchased a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,615 shares of the biopharmaceutical company's stock, valued at approximately $40,000. Two Sigma Securities LLC owned 0.18% of Palatin Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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.

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