PureTech Health (NASDAQ:PRTC) Sees Large Volume Increase – Should You Buy?

PureTech Health plc (NASDAQ:PRTC) shares saw strong trading volume on Wednesday . 8,337 shares were traded during trading, an increase of 103% from the previous session’s volume of 4,116 shares.The stock last traded at $22.20 and had previously closed at $21.24.

Wall Street Analysts Forecast Growth

PRTC has been the topic of several research reports. Leerink Partners assumed coverage on PureTech Health in a research note on Monday, September 9th. They set an “outperform” rating and a $45.00 price target on the stock. Leerink Partnrs raised shares of PureTech Health to a “strong-buy” rating in a research note on Monday, September 9th.

PureTech Health Trading Up 10.1 %

The business has a 50-day simple moving average of $20.63 and a two-hundred day simple moving average of $23.23.

Hedge Funds Weigh In On PureTech Health

An institutional investor recently bought a new position in PureTech Health stock. Birch Hill Investment Advisors LLC acquired a new position in shares of PureTech Health plc (NASDAQ:PRTC) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 302,000 shares of the company’s stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned 1.26% of PureTech Health as of its most recent SEC filing. 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.