Pain Therapeutics, Inc. (NASDAQ:PTIE) shares traded down 5.6% during trading on Thursday . The company traded as low as $1.00 and last traded at $1.02. 891,700 shares were traded during mid-day trading, an increase of 40% from the average session volume of 638,110 shares. The stock had previously closed at $1.08.

The stock has a market cap of $6.91 million, a P/E ratio of -0.59 and a beta of 2.61.

Pain Therapeutics (NASDAQ:PTIE) last posted its earnings results on Thursday, July 26th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.29.

In other Pain Therapeutics news, major shareholder Armistice Capital, Llc sold 1,200,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $1.02, for a total value of $1,224,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sanford Robertson bought 62,183 shares of the firm’s stock in a transaction on Wednesday, September 26th. The stock was bought at an average cost of $1.02 per share, for a total transaction of $63,426.66. Following the transaction, the director now directly owns 72,394 shares of the company’s stock, valued at $73,841.88. The disclosure for this purchase can be found here. Corporate insiders own 31.40% of the company’s stock.

A hedge fund recently raised its stake in Pain Therapeutics stock. Northern Trust Corp grew its holdings in shares of Pain Therapeutics, Inc. (NASDAQ:PTIE) by 152.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,144 shares of the biopharmaceutical company’s stock after purchasing an additional 23,062 shares during the period. Northern Trust Corp owned about 0.55% of Pain Therapeutics worth $270,000 as of its most recent SEC filing. 32.88% of the stock is currently owned by hedge funds and other institutional investors.

About Pain Therapeutics (NASDAQ:PTIE)

Pain Therapeutics, Inc develops drugs for nervous system disorders in the United States. The company's lead drug candidate is REMOXY, a proprietary abuse-deterrent oral formulation of oxycodone to treat severe chronic pain. It is also developing FENROCK, a proprietary abuse-deterrent transdermal pain patch for pain relief; PTI-125, a small molecule drug candidate to treat Alzheimer's disease; and PTI-125DX, a blood-based diagnostic/biomarker to detect Alzheimer's disease.

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