Oppenheimer set a $14.00 price target on Polarityte (NASDAQ:PTE) in a report published on Wednesday, TipRanks reports. The firm currently has a buy rating on the stock.
A number of other equities research analysts also recently commented on PTE. ValuEngine raised Polarityte from a hold rating to a buy rating in a report on Tuesday, July 2nd. National Securities reduced their target price on Polarityte from $5.00 to $3.00 and set a sell rating for the company in a report on Monday, May 13th. HC Wainwright started coverage on Polarityte in a report on Monday, July 8th. They issued a buy rating and a $8.00 target price for the company. Zacks Investment Research cut Polarityte from a buy rating to a hold rating in a research report on Wednesday, August 14th. Finally, Northland Securities set a $50.00 price target on Polarityte and gave the company a buy rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Polarityte presently has a consensus rating of Buy and an average target price of $23.41.
Shares of PTE stock traded down $0.10 during trading hours on Wednesday, hitting $4.83. The stock had a trading volume of 42,252 shares, compared to its average volume of 367,964. The firm has a market capitalization of $133.26 million, a PE ratio of -0.99 and a beta of 1.41. Polarityte has a twelve month low of $3.84 and a twelve month high of $30.88. The stock’s 50 day moving average is $4.97 and its 200 day moving average is $8.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.72 and a quick ratio of 6.68.
In related news, Director Steve Gorlin sold 53,700 shares of Polarityte stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $5.94, for a total transaction of $318,978.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul Elliot Mann acquired 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average price of $5.33 per share, with a total value of $186,550.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 54,000 shares of company stock valued at $293,680. Company insiders own 43.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of PTE. FMR LLC purchased a new stake in Polarityte in the 1st quarter valued at about $24,884,000. BlackRock Inc. grew its holdings in Polarityte by 24.9% in the 2nd quarter. BlackRock Inc. now owns 988,361 shares of the company’s stock valued at $5,634,000 after buying an additional 196,956 shares during the period. Vanguard Group Inc. grew its holdings in Polarityte by 22.1% in the 2nd quarter. Vanguard Group Inc. now owns 632,559 shares of the company’s stock valued at $3,606,000 after buying an additional 114,413 shares during the period. William Blair Investment Management LLC purchased a new stake in Polarityte in the 2nd quarter valued at about $2,835,000. Finally, Advisor Group Inc. purchased a new stake in Polarityte in the 1st quarter valued at about $2,242,000. Hedge funds and other institutional investors own 42.55% of the company’s stock.
Polarityte Company Profile
PolarityTE, Inc, a biotechnology and regenerative biomaterials 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 in the United States. The company operates in two segments, Regenerative Medicine and Contract Services.
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