Palatin Technologies (NYSEAMERICAN:PTN) Shares Cross Above 200-Day Moving Average – What’s Next?

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $1.04. Palatin Technologies shares last traded at $0.95, with a volume of 201,186 shares.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Palatin Technologies in a report on Thursday, December 19th.

Palatin Technologies Trading Down 1.0 %

The stock has a market capitalization of $18.57 million, a price-to-earnings ratio of -0.48 and a beta of 0.90.

Institutional Trading of Palatin Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Palatin Technologies in the second quarter worth approximately $29,000. Virtu Financial LLC purchased a new stake in shares of Palatin Technologies during the third quarter valued at approximately $51,000. HB Wealth Management LLC boosted its stake in shares of Palatin Technologies by 86.3% during the fourth 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 during the period. Finally, Armistice Capital LLC purchased a new stake in shares of Palatin Technologies during the second quarter valued at approximately $3,272,000. Hedge funds and other 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.