PureTech Health (NASDAQ:PRTC) Shares Down 6.7% – Here’s What Happened

PureTech Health plc (NASDAQ:PRTC)’s share price dropped 6.7% during mid-day trading on Monday . The company traded as low as $21.29 and last traded at $21.29. Approximately 943 shares changed hands during trading, a decline of 77% from the average daily volume of 4,061 shares. The stock had previously closed at $22.82.

Wall Street Analyst Weigh In

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

PureTech Health Stock Performance

The firm’s fifty day moving average is $20.46 and its 200 day moving average is $23.38.

Hedge Funds Weigh In On PureTech Health

An institutional investor recently bought a new position in PureTech Health stock. AWM Investment Company Inc. bought a new stake in PureTech Health plc (NASDAQ:PRTC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,900 shares of the company’s stock, valued at approximately $197,000. 0.04% of the stock is currently owned by 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.