Polarityte Inc (COOL) Receives Consensus Rating of “Strong Buy” from Brokerages

Shares of Polarityte Inc (NASDAQ:COOL) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Analysts have set a 12 month consensus target price of $65.00 for the company, according to Zacks. Zacks has also assigned Polarityte an industry rank of 120 out of 255 based on the ratings given to its competitors.

Several research firms recently issued reports on COOL. BidaskClub raised shares of Polarityte from a “hold” rating to a “buy” rating in a research report on Wednesday, May 16th. ValuEngine lowered shares of Polarityte from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research lowered shares of Polarityte from a “hold” rating to a “sell” rating in a research report on Monday, June 4th. Finally, Cantor Fitzgerald dropped their price target on shares of Polarityte from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, June 12th.

In other news, Director Peter A. Cohen acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, July 25th. The stock was bought at an average price of $23.20 per share, with a total value of $139,200.00. Following the completion of the acquisition, the director now owns 45,000 shares in the company, valued at approximately $1,044,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 59.91% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in COOL. Wells Fargo & Company MN grew its stake in shares of Polarityte by 265.8% during the fourth quarter. Wells Fargo & Company MN now owns 16,825 shares of the company’s stock valued at $391,000 after purchasing an additional 12,225 shares during the last quarter. Millennium Management LLC purchased a new stake in Polarityte during the fourth quarter worth about $3,057,000. Suntrust Banks Inc. purchased a new stake in Polarityte during the first quarter worth about $181,000. Comprehensive Portfolio Management LLC increased its holdings in Polarityte by 25.9% during the second quarter. Comprehensive Portfolio Management LLC now owns 20,048 shares of the company’s stock worth $472,000 after buying an additional 4,120 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in Polarityte during the second quarter worth about $119,000. 12.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of Polarityte traded up $0.32, reaching $23.78, during trading hours on Friday, according to MarketBeat. 387,230 shares of the company traded hands, compared to its average volume of 747,819. Polarityte has a 1-year low of $15.21 and a 1-year high of $41.22.

Polarityte (NASDAQ:COOL) last posted its quarterly earnings results on Thursday, June 14th. The company reported ($1.47) earnings per share (EPS) for the quarter. equities analysts predict that Polarityte will post -3.84 EPS for the current year.

Polarityte Company Profile

PolarityTE, Inc operates as commercial-stage biotechnology and regenerative biomaterials company in the United States. The company focuses on discovering, designing and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences.

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