PureTech Health PLC Sponsored ADR (NASDAQ:PRTC) Short Interest Up 100.0% in September

Key Points

• PureTech Health PLC experienced a dramatic increase in short interest of 100.0% in September, rising to 13,000 shares as of the end of the month.
• Hedge funds have shown interest in PureTech Health, with Pentwater Capital Management increasing its stake by 39.2% and two others acquiring new positions in the company.
• Despite recent trading upticks, analysts maintain a consensus “Sell” rating for PureTech Health, as highlighted by Weiss Ratings and general market sentiment.

PureTech Health PLC Sponsored ADR (NASDAQ:PRTC - Get Free Report) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 13,000 shares, an increase of 100.0% from the September 15th total of 6,500 shares. Based on an average daily volume of 3,900 shares, the short-interest ratio is currently 3.3 days. Based on an average daily volume of 3,900 shares, the short-interest ratio is currently 3.3 days.

Hedge Funds Weigh In On PureTech Health

A number of hedge funds and other institutional investors have recently modified their holdings of PRTC. Pentwater Capital Management LP boosted its position in shares of PureTech Health by 39.2% in the 1st 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. Diadema Partners LP acquired a new position in shares of PureTech Health in the 2nd quarter valued at $126,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of PureTech Health in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 0.04% of the company's stock.

PureTech Health Trading Up 3.8%

PRTC stock traded up $0.68 during trading hours on Monday, hitting $18.68. 2,131 shares of the stock traded hands, compared to its average volume of 4,514. PureTech Health has a one year low of $13.30 and a one year high of $24.99. The stock has a 50-day simple moving average of $17.50 and a 200 day simple moving average of $17.62.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of PureTech Health in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of "Sell".

About PureTech Health

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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