PureTech Health (NASDAQ:PRTC) Shares Gap Down – What’s Next?

Shares of PureTech Health plc (NASDAQ:PRTC) gapped down before the market opened on Monday . The stock had previously closed at $22.21, but opened at $21.74. PureTech Health shares last traded at $22.00, with a volume of 918 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Leerink Partnrs upgraded shares of PureTech Health to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners initiated coverage on PureTech Health in a report on Monday, September 9th. They issued an “outperform” rating and a $45.00 target price on the stock.

PureTech Health Price Performance

The business has a 50 day moving average of $20.88 and a 200 day moving average of $23.08.

Institutional Trading of PureTech Health

An institutional investor recently bought a new position in PureTech Health stock. Birch Hill Investment Advisors LLC acquired a new position 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. The institutional investor acquired 302,000 shares of the company’s stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned approximately 1.26% of PureTech Health as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 0.04% of the company’s stock.

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.