Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $1.18. Palatin Technologies shares last traded at $1.08, with a volume of 241,697 shares trading hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Palatin Technologies in a research note on Thursday, December 19th.

Palatin Technologies Trading Down 1.9 %

The company has a market cap of $20.72 million, a PE ratio of -0.53 and a beta of 0.90.

Institutional Investors Weigh In On Palatin Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in shares of Palatin Technologies in the second quarter valued at about $29,000. Armistice Capital LLC acquired a new stake in Palatin Technologies in the 2nd quarter valued at approximately $3,272,000. Virtu Financial LLC bought a new position in Palatin Technologies in the 3rd quarter worth approximately $51,000. Finally, HB Wealth Management LLC lifted its holdings in shares of Palatin Technologies by 86.3% during the fourth quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 51,200 shares during the last quarter. 11.50% of the stock is currently owned by institutional investors and hedge funds.

Palatin Technologies Company Profile

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.