PureTech Health (NASDAQ:PRTC) Trading Down 3.8% – Here’s What Happened

PureTech Health plc (NASDAQ:PRTC) dropped 3.8% on Friday . The stock traded as low as $22.50 and last traded at $22.50. Approximately 2,784 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 4,174 shares. The stock had previously closed at $23.39.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Leerink Partners assumed coverage on PureTech Health in a research report on Monday, September 9th. They set an “outperform” rating and a $45.00 price objective on the stock. Leerink Partnrs upgraded PureTech Health to a “strong-buy” rating in a research report on Monday, September 9th.

PureTech Health Stock Performance

The stock has a 50-day moving average of $20.75 and a 200 day moving average of $23.18.

Institutional Investors Weigh In On PureTech Health

An institutional investor recently bought a new position in PureTech Health stock. Birch Hill Investment Advisors LLC bought a new position in shares of PureTech Health plc (NASDAQ:PRTC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 302,000 shares of the company’s stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned about 1.26% of PureTech Health as of its most recent SEC filing. Institutional investors 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.