Palatin Technologies, Inc. (NYSEAMERICAN:PTN) Short Interest Up 16.4% in February

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,490,000 shares, an increase of 16.4% from the February 13th total of 1,280,000 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average trading volume of 869,400 shares, the short-interest ratio is presently 1.7 days.

Palatin Technologies Stock Performance

NYSEAMERICAN:PTN opened at $0.76 on Friday. Palatin Technologies has a twelve month low of $0.68 and a twelve month high of $2.88. The firm’s 50-day simple moving average is $0.97. The company has a market cap of $19.83 million, a price-to-earnings ratio of -0.49 and a beta of 0.87.

Analyst Ratings Changes

Separately, HC Wainwright dropped their price objective on shares of Palatin Technologies from $17.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, February 13th.

Hedge Funds Weigh In On Palatin Technologies

Several large investors have recently made changes to their positions in PTN. XTX Topco Ltd lifted its stake in Palatin Technologies by 98.6% during the third quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 14,432 shares in the last quarter. Virtu Financial LLC purchased a new stake in Palatin Technologies during the third quarter valued at about $51,000. HB Wealth Management LLC lifted its stake in Palatin Technologies by 86.3% during the fourth quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 51,200 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in Palatin Technologies during the fourth quarter valued at about $40,000. Finally, Squarepoint Ops LLC purchased a new stake in Palatin Technologies during the fourth quarter valued at about $34,000. Institutional investors own 11.50% of the company’s stock.

About Palatin Technologies

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.