PureTech Health plc (NASDAQ:PRTC) Short Interest Down 24.3% in October

PureTech Health plc (NASDAQ:PRTC) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 5,300 shares, a decrease of 24.3% from the September 30th total of 7,000 shares. Based on an average daily volume of 4,800 shares, the days-to-cover ratio is presently 1.1 days.

Hedge Funds Weigh In On PureTech Health

A hedge fund recently bought a new stake in PureTech Health stock. Birch Hill Investment Advisors LLC acquired a new position in PureTech Health plc (NASDAQ:PRTC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. 0.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRTC. Leerink Partnrs raised shares of PureTech Health to a “strong-buy” rating in a report on Monday, September 9th. Leerink Partners began coverage on PureTech Health in a research note on Monday, September 9th. They issued an “outperform” rating and a $45.00 target price for the company.

PureTech Health Trading Up 3.0 %

Shares of NASDAQ:PRTC traded up $0.61 during trading on Tuesday, hitting $20.77. The stock had a trading volume of 2,255 shares, compared to its average volume of 4,051. The stock has a 50-day simple moving average of $20.66 and a two-hundred day simple moving average of $23.99. PureTech Health has a 12-month low of $17.08 and a 12-month high of $34.00.

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.