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

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reduced their price objective on shares of 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 Price Performance

The stock’s 50-day moving average price is $0.99. The firm has a market capitalization of $20.68 million, a P/E ratio of -0.51 and a beta of 0.87.

Hedge Funds Weigh In On Palatin Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd lifted its stake 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 acquiring an additional 14,432 shares during the period. Squarepoint Ops LLC bought a new position in shares of Palatin Technologies during the 4th quarter valued at $34,000. Two Sigma Securities LLC purchased a new stake in Palatin Technologies during the fourth quarter valued at $40,000. HB Wealth Management LLC boosted 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 worth $127,000 after purchasing an additional 51,200 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Palatin Technologies in the 3rd quarter worth approximately $51,000. 11.50% of the stock is owned by institutional investors.

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.