Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $0.82. Palatin Technologies shares last traded at $0.77, with a volume of 315,521 shares.

Wall Street Analysts Forecast Growth

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

Palatin Technologies Stock Performance

The business has a fifty day moving average price of $1.01. The company has a market capitalization of $20.10 million, a PE ratio of -0.50 and a beta of 0.87.

Institutional Trading of Palatin Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd boosted its stake in shares of 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 acquiring an additional 14,432 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Palatin Technologies in the 4th quarter valued at about $34,000. Two Sigma Securities LLC purchased a new position in Palatin Technologies in the 4th quarter valued at about $40,000. HB Wealth Management LLC boosted its stake in shares of Palatin Technologies by 86.3% during the 4th quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 51,200 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Palatin Technologies during the third quarter worth about $51,000. Hedge funds and other 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.