PureTech Health PLC Sponsored ADR (NASDAQ:PRTC) Short Interest Down 66.3% in May

PureTech Health PLC Sponsored ADR (NASDAQ:PRTC) saw a significant drop in short interest in May. As of May 15th, there was short interest totaling 8,275 shares, a drop of 66.3% from the April 30th total of 24,521 shares. Based on an average daily trading volume, of 23,494 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded PureTech Health from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, PureTech Health currently has a consensus rating of “Sell”.

PureTech Health Stock Performance

PRTC stock remained flat at $17.42 during midday trading on Friday. The business has a 50 day simple moving average of $16.93 and a 200 day simple moving average of $17.21. PureTech Health has a 52-week low of $14.50 and a 52-week high of $19.92.

PureTech Health (NASDAQ:PRTC) last posted its quarterly earnings results on Friday, April 10th. The company reported ($1.35) EPS for the quarter. The company had revenue of $1.40 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PureTech Health stock. Lansdowne Partners UK LLP bought a new stake in PureTech Health PLC Sponsored ADR (NASDAQ:PRTC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,106,660 shares of the company’s stock, valued at approximately $260,973,000. PureTech Health comprises 17.1% of Lansdowne Partners UK LLP’s portfolio, making the stock its 2nd largest position. Lansdowne Partners UK LLP owned about 58.37% of PureTech Health at the end of the most recent quarter. 0.04% of the stock is owned by hedge funds and other institutional investors.

About PureTech Health

PureTech Health (NASDAQ: PRTC) is a clinical-stage biotherapeutics company focused on creating and developing first-in-class medicines across immunology, inflammation, oncology and neuroscience. The company operates through a model of incubating programs in-house and advancing selected assets into independent, value-creating entities. Its internal pipeline includes multiple clinical and preclinical candidates addressing fibrotic diseases, solid tumors and rare genetic disorders.

PureTech’s proprietary platform technologies span modalities such as monoclonal antibodies, small molecules and cell-based therapies.