Short Interest in PureTech Health PLC Sponsored ADR (NASDAQ:PRTC) Expands By 53.1%

Key Points

• Short interest in PureTech Health PLC increased by 53.1%, rising from 3,200 shares to 4,900 shares as of August 15th, indicating growing bearish sentiment among investors.
• Notably, several hedge funds have adjusted their stakes in PureTech, with Millennium Management LLC establishing a new position valued at approximately $823,000.
• As of the latest trading session, PureTech Health stock was priced at $16.34, up $0.48, with a 12-month trading range between $13.30 and $24.99.

PureTech Health PLC Sponsored ADR (NASDAQ:PRTC - ) was the target of a large growth in short interest in August. As of August 15th, there was short interest totaling 4,900 shares, agrowthof53.1% from the July 31st total of 3,200 shares. Based on an average trading volume of 3,400 shares, the days-to-cover ratio is currently 1.4 days. Based on an average trading volume of 3,400 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On PureTech Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRTC. Millennium Management LLC bought a new position in PureTech Health in the 4th quarter valued at approximately $823,000. Pentwater Capital Management LP lifted its position in 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 acquiring an additional 9,449 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in shares of PureTech Health during the 2nd quarter valued at $29,000. Finally, Diadema Partners LP bought a new position in shares of PureTech Health during the 2nd quarter valued at $126,000. 0.04% of the stock is owned by institutional investors.

PureTech Health Stock Performance

PRTC stock traded up $0.48 during midday trading on Friday, hitting $16.34. The company's stock had a trading volume of 8,633 shares, compared to its average volume of 5,289. PureTech Health has a 12 month low of $13.30 and a 12 month high of $24.99. The firm's 50-day moving average is $18.11 and its 200-day moving average is $17.81.

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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