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

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) saw a significant growth in short interest in 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 stock are short sold. Based on an average daily volume of 869,400 shares, the short-interest ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

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

Palatin Technologies Stock Performance

Shares of NYSEAMERICAN PTN traded up $0.02 during mid-day trading on Thursday, reaching $0.82. The company had a trading volume of 19,611 shares, compared to its average volume of 427,344. Palatin Technologies has a one year low of $0.68 and a one year high of $2.88. The firm has a market cap of $21.35 million, a price-to-earnings ratio of -0.53 and a beta of 0.87. The company has a 50-day moving average price of $0.98.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd grew its position in Palatin Technologies by 98.6% in 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 bought a new position in Palatin Technologies in the fourth quarter valued at about $34,000. Two Sigma Securities LLC bought a new position in Palatin Technologies in the fourth quarter valued at about $40,000. HB Wealth Management LLC grew its position in Palatin Technologies by 86.3% in the fourth quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 51,200 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Palatin Technologies in the third quarter valued at about $51,000. 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.