PureTech Health (NASDAQ:PRTC) Stock Price Up 4.7% - What's Next?

Key Points

• PureTech Health's stock increased by 4.7%, trading at $16.56, but experienced a decline in trading volume of 67% from the average session.
• Institutional investors showed interest in PureTech Health, with notable new stakes acquired, particularly by Pentwater Capital Management LP, which increased its position by 39.2%.
• The company is developing innovative treatments including LYT-100 for idiopathic pulmonary fibrosis and LYT-200 targeting solid tumors and hematological malignancies.

PureTech Health PLC Sponsored ADR (NASDAQ:PRTC - Get Free Report) was up 4.7% during mid-day trading on Thursday . The company traded as high as $16.22 and last traded at $16.56. Approximately 1,750 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 5,363 shares. The stock had previously closed at $15.82.

PureTech Health Stock Up 3.0%

The business's fifty day moving average is $18.11 and its 200-day moving average is $17.81.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new stake in PureTech Health in the 4th quarter worth approximately $823,000. Pentwater Capital Management LP grew its stake in PureTech Health by 39.2% in the first quarter. Pentwater Capital Management LP now owns 33,560 shares of the company's stock worth $664,000 after purchasing an additional 9,449 shares during the period. Diadema Partners LP bought a new position in PureTech Health in the second quarter worth $126,000. Finally, Persistent Asset Partners Ltd bought a new position in PureTech Health in the second quarter worth $29,000. Hedge funds and other institutional investors 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.