Palatin Technologies (NYSEAMERICAN:PTN) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.00 and traded as high as $0.83. Palatin Technologies shares last traded at $0.80, with a volume of 143,295 shares traded.

Wall Street Analysts Forecast Growth

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

Palatin Technologies Stock Down 5.0 %

The stock has a market capitalization of $19.83 million, a PE ratio of -0.49 and a beta of 0.87. The stock has a 50-day simple moving average of $0.97.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC boosted its stake in shares of Palatin Technologies by 86.3% in the 4th quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 51,200 shares in the last quarter. XTX Topco Ltd lifted its holdings in Palatin Technologies by 98.6% during the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 14,432 shares during the last quarter. Virtu Financial LLC acquired a new position in Palatin Technologies in the third quarter valued at about $51,000. Squarepoint Ops LLC bought a new stake in Palatin Technologies during the fourth quarter worth about $34,000. Finally, Two Sigma Securities LLC bought a new position in shares of Palatin Technologies in the fourth quarter valued at approximately $40,000. Institutional investors own 11.50% of the company’s stock.

Palatin Technologies Company Profile

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.