PureTech Health PLC Sponsored ADR (NASDAQ:PRTC) Sees Large Growth in Short Interest

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 - Get Free Report) was the target of a large growth in short interest during the month of August. As of August 15th, there was short interest totaling 4,900 shares, a growth of 53.1% from the July 31st total of 3,200 shares. Based on an average daily volume of 3,400 shares, the short-interest ratio is currently 1.4 days. Based on an average daily volume of 3,400 shares, the short-interest ratio is currently 1.4 days.

PureTech Health Trading Down 3.1%

NASDAQ:PRTC traded down $0.51 during mid-day trading on Friday, hitting $15.80. The stock had a trading volume of 1,787 shares, compared to its average volume of 4,557. The company's 50 day simple moving average is $18.01 and its 200 day simple moving average is $17.76. PureTech Health has a twelve month low of $13.30 and a twelve month high of $24.99.

Hedge Funds Weigh In On PureTech Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diadema Partners LP bought a new position in PureTech Health during the second quarter worth $126,000. Persistent Asset Partners Ltd acquired a new stake in PureTech Health during the second quarter worth approximately $29,000. Pentwater Capital Management LP lifted its position in PureTech Health by 39.2% during the first quarter. Pentwater Capital Management LP now owns 33,560 shares of the company's stock worth $664,000 after acquiring an additional 9,449 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in PureTech Health during the fourth quarter worth approximately $823,000. 0.04% of the stock is owned by institutional investors.

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.