PureTech Health (NASDAQ:PRTC) Shares Gap Down – Here’s Why

PureTech Health plc (NASDAQ:PRTC)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $20.50, but opened at $19.24. PureTech Health shares last traded at $21.20, with a volume of 8,433 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on PRTC. Leerink Partnrs raised PureTech Health to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners assumed coverage on shares of PureTech Health in a report on Monday, September 9th. They issued an “outperform” rating and a $45.00 price objective for the company.

PureTech Health Price Performance

The company has a 50 day simple moving average of $20.83 and a 200 day simple moving average of $24.22.

Institutional Investors Weigh In On PureTech Health

A hedge fund recently bought a new stake in PureTech Health stock. AWM Investment Company Inc. bought a new position in PureTech Health plc (NASDAQ:PRTC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,900 shares of the company’s stock, valued at approximately $197,000. 0.04% of the stock is currently owned by institutional investors and hedge funds.

About PureTech Health

PureTech Health plc, engages in the development and commercialization of biotechnology and pharmaceutical solutions in the United States. The company is developing LYT-100, which is under Phase 2 stage, to treat idiopathic pulmonary fibrosis (IPF); and LYT-200, a IgG4 monoclonal antibody, currently under Phase 1/2 stage, targeting galectin-9 for treating solid tumors and hematological malignancies.