Palatin Technologies, Inc. (NYSEAMERICAN:PTN) was the target of a large decrease in short interest in the month of March. As of March 29th, there was short interest totalling 15,482,227 shares, a decrease of 1.7% from the March 15th total of 15,754,581 shares. Approximately 8.1% of the shares of the stock are sold short. Based on an average daily volume of 583,546 shares, the days-to-cover ratio is presently 26.5 days.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its position in shares of Palatin Technologies by 48.9% during the 4th quarter. Rhumbline Advisers now owns 250,452 shares of the biopharmaceutical company’s stock valued at $177,000 after acquiring an additional 82,266 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of Palatin Technologies by 1,633.9% in the third quarter. Citadel Advisors LLC now owns 248,604 shares of the biopharmaceutical company’s stock valued at $248,000 after purchasing an additional 234,266 shares in the last quarter. AQR Capital Management LLC increased its position in Palatin Technologies by 2,022.6% in the third quarter. AQR Capital Management LLC now owns 383,749 shares of the biopharmaceutical company’s stock worth $383,000 after purchasing an additional 365,670 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Palatin Technologies by 40.6% in the third quarter. TIAA CREF Investment Management LLC now owns 422,994 shares of the biopharmaceutical company’s stock worth $422,000 after purchasing an additional 122,126 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Palatin Technologies by 30.5% in the fourth quarter. Bank of New York Mellon Corp now owns 700,936 shares of the biopharmaceutical company’s stock worth $496,000 after purchasing an additional 163,633 shares during the last quarter.

Shares of Palatin Technologies stock opened at $1.06 on Wednesday. Palatin Technologies has a 12 month low of $0.59 and a 12 month high of $1.59.

Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings data on Tuesday, February 12th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.02). During the same period in the prior year, the company posted $0.01 earnings per share.

PTN has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Palatin Technologies from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a report on Friday, February 15th. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Palatin Technologies in a report on Friday, January 11th. Finally, TheStreet downgraded shares of Palatin Technologies from a “c-” rating to a “d” rating in a report on Tuesday, February 19th.

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About Palatin Technologies

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted, receptor-specific therapeutics for the treatment of various diseases in the United States. The company's principal product is Vyleesi, an on demand subcutaneous injectable product that has completed Phase III clinical studies for the treatment of premenopausal women with acquired, generalized hypoactive sexual desire disorder.

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