PureTech Health (NASDAQ:PRTC) Trading 1.4% Higher - Here's What Happened

Key Points

• PureTech Health shares rose 1.4% during mid-day trading, reaching a high of $18.20, with a notable increase in trading volume of 589% from the average.
• Institutional investors have shown increased interest in PureTech Health, with Millennium Management LLC acquiring a new position valued at approximately $823,000.
• The company is currently developing two key drugs: LYT-100 for idiopathic pulmonary fibrosis and LYT-200 aimed at treating solid tumors and hematological malignancies.

PureTech Health PLC Sponsored ADR (NASDAQ:PRTC - Get Free Report) traded up 1.4% on Wednesday . The company traded as high as $18.20 and last traded at $17.75. 13,846 shares traded hands during trading, an increase of 589% from the average session volume of 2,010 shares. The stock had previously closed at $17.50.

PureTech Health Stock Up 5.6%

The company has a 50 day moving average of $18.22 and a two-hundred day moving average of $17.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Persistent Asset Partners Ltd bought a new stake in shares of PureTech Health in the second quarter valued at about $29,000. Diadema Partners LP acquired a new position in shares of PureTech Health in the 2nd quarter valued at $126,000. Pentwater Capital Management LP grew its holdings in PureTech Health by 39.2% in the first quarter. Pentwater Capital Management LP now owns 33,560 shares of the company's stock valued at $664,000 after purchasing an additional 9,449 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of PureTech Health during the fourth quarter valued at approximately $823,000. 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.