PureTech Health (NASDAQ:PRTC) Trading Up 1.4% - Still a Buy?

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.

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

PureTech Health Stock Up 1.4%

The firm's fifty day moving average is $18.24 and its 200-day moving average is $17.92.

Hedge Funds Weigh In On PureTech Health

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new position in shares of PureTech Health during the fourth quarter valued at about $823,000. Pentwater Capital Management LP raised its holdings in shares of PureTech Health by 39.2% during 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, Persistent Asset Partners Ltd acquired a new position in shares of PureTech Health during the second quarter valued at about $29,000. Institutional investors and hedge funds 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.

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