RTW Investments LP acquired a new stake in shares of Polarityte Inc (NASDAQ:COOL) during the second quarter, HoldingsChannel reports. The fund acquired 426,670 shares of the company’s stock, valued at approximately $10,044,000. Polarityte comprises about 0.7% of RTW Investments LP’s portfolio, making the stock its 23rd biggest position.
A number of other hedge funds and other institutional investors also recently bought and sold shares of COOL. DSAM Partners London Ltd bought a new position in Polarityte during the 2nd quarter valued at $19,178,000. FMR LLC acquired a new stake in shares of Polarityte during the second quarter worth $17,202,000. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Polarityte by 483.8% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 859,354 shares of the company’s stock worth $20,229,000 after purchasing an additional 712,151 shares during the period. BlackRock Inc. raised its holdings in shares of Polarityte by 3,211.3% during the second quarter. BlackRock Inc. now owns 714,059 shares of the company’s stock worth $16,809,000 after purchasing an additional 692,495 shares during the period. Finally, Kavi Asset Management LP acquired a new stake in shares of Polarityte during the second quarter worth $683,000. Hedge funds and other institutional investors own 43.14% of the company’s stock.
Shares of NASDAQ:COOL opened at $24.46 on Friday. The firm has a market cap of $535.87 million, a price-to-earnings ratio of -0.92 and a beta of 1.11. Polarityte Inc has a 1-year low of $15.21 and a 1-year high of $41.22.
In other Polarityte news, Director Peter A. Cohen bought 6,000 shares of the company’s stock in a transaction on Wednesday, July 25th. The shares were bought at an average cost 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 of the company’s stock, valued at $1,044,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 43.30% of the stock is currently owned by corporate insiders.
A number of analysts have weighed in on the stock. BidaskClub raised shares of Polarityte from a “hold” rating to a “buy” rating in a report on Wednesday, May 16th. Zacks Investment Research raised shares of Polarityte from a “sell” rating to a “hold” rating in a report on Monday, August 27th. ValuEngine cut shares of Polarityte from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Finally, Cantor Fitzgerald dropped their target price on shares of Polarityte from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, June 12th.
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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