Palatin Technologies, Inc. (NYSEAMERICAN:PTN) Short Interest Update

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

Hedge Funds Weigh In On Palatin Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd lifted its position in shares of Palatin Technologies by 98.6% in the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 14,432 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Palatin Technologies in the fourth quarter valued at $34,000. Two Sigma Securities LLC acquired a new position in shares of Palatin Technologies in the fourth quarter valued at $40,000. Virtu Financial LLC bought a new position in Palatin Technologies in the third quarter worth $51,000. Finally, HB Wealth Management LLC boosted 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 worth $127,000 after buying an additional 51,200 shares in the last quarter. 11.50% of the stock is currently owned by institutional investors.

Palatin Technologies Stock Performance

NYSEAMERICAN PTN traded up $0.01 during midday trading on Wednesday, hitting $0.80. The company had a trading volume of 196,659 shares, compared to its average volume of 427,912. The stock has a fifty day moving average of $0.99. Palatin Technologies has a fifty-two week low of $0.68 and a fifty-two week high of $2.88. The firm has a market cap of $20.88 million, a PE ratio of -0.52 and a beta of 0.87.

Analyst Ratings Changes

Separately, HC Wainwright reduced their price objective on Palatin Technologies from $17.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, February 13th.

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.