PureTech Health (NASDAQ:PRTC) Shares Gap Up – What’s Next?

PureTech Health plc (NASDAQ:PRTC) gapped up before the market opened on Friday . The stock had previously closed at $21.03, but opened at $23.67. PureTech Health shares last traded at $23.69, with a volume of 623 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRTC. Leerink Partners began coverage on PureTech Health in a report on Monday, September 9th. They issued an “outperform” rating and a $45.00 price objective for the company. Leerink Partnrs upgraded shares of PureTech Health to a “strong-buy” rating in a research note on Monday, September 9th.

PureTech Health Price Performance

The business has a 50-day moving average price of $20.99 and a 200 day moving average price of $22.96.

Institutional Trading of PureTech Health

An institutional investor recently bought a new position in PureTech Health stock. Birch Hill Investment Advisors LLC bought a new position in PureTech Health plc (NASDAQ:PRTC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 302,000 shares of the company’s stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned approximately 1.26% of PureTech Health as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.04% of the company’s stock.

PureTech Health Company Profile

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.