PureTech Health (NASDAQ:PRTC) Shares Gap Down – Here’s Why

PureTech Health plc (NASDAQ:PRTC) gapped down prior to trading on Wednesday . The stock had previously closed at $22.85, but opened at $22.11. PureTech Health shares last traded at $22.11, with a volume of 724 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PRTC. Leerink Partnrs upgraded PureTech Health to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners began coverage on PureTech Health in a research note on Monday, September 9th. They set an “outperform” rating and a $45.00 target price for the company.

PureTech Health Price Performance

The stock has a 50-day moving average of $20.36 and a two-hundred day moving average of $23.60.

Institutional Trading of PureTech Health

A hedge fund recently bought a new stake in PureTech Health stock. Birch Hill Investment Advisors LLC purchased a new stake in shares of PureTech Health plc (NASDAQ:PRTC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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. 0.04% of the stock is owned by hedge funds and other institutional investors.

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.