PureTech Health (LON:PRTC) Shares Up 14.2% - Here's Why

Key Points

• PureTech Health plc shares surged by 14.2% on Friday, reaching a trading high of GBX 123.80 ($1.67) as 9 million shares were exchanged, significantly surpassing the average trading volume.
• The company has a market capitalization of £293.65 million and a high price-to-earnings ratio of 714.71, indicating strong investor interest despite high valuation metrics.
• Insider Bharatt Chowrira purchased 167,739 shares at £1 per share, which reflects confidence from company insiders, who own 13.13% of the company’s stock.

PureTech Health plc (LON:PRTC - Get Free Report)'s stock price traded up 14.2% during mid-day trading on Friday . The stock traded as high as GBX 123.80 ($1.67) and last traded at GBX 121.50 ($1.64). 9,013,305 shares changed hands during mid-day trading, an increase of 1,053% from the average session volume of 781,543 shares. The stock had previously closed at GBX 106.40 ($1.44).

PureTech Health Stock Performance

The company has a market cap of £304.02 million, a P/E ratio of 739.96 and a beta of 1.02. The firm has a 50 day moving average of GBX 129.31 and a 200-day moving average of GBX 129.65. The company has a quick ratio of 2.51, a current ratio of 3.68 and a debt-to-equity ratio of 45.82.

Insiders Place Their Bets

In related news, insider Bharatt Chowrira bought 167,739 shares of the stock in a transaction on Thursday, July 3rd. The stock was bought at an average price of GBX 1 per share, for a total transaction of £1,677.39. 13.13% of the stock is currently owned by corporate insiders.

About PureTech Health

PureTech Health plc, a clinical-stage biopharma company, focuses on developing medicines for diseases caused by dysfunctions in the nervous, gastrointestinal, and immune systems. The company is developing a microbiome immune system drug-discovery platform and drug candidates for immune-mediated diseases; and products to induce weight loss and enhance glycaemic control through an orally administered capsule.