Palatin Technologies (NYSEAMERICAN:PTN) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $1.05. Palatin Technologies shares last traded at $1.02, with a volume of 394,983 shares.

Analyst Ratings Changes

Separately, HC Wainwright dropped their price objective on Palatin Technologies from $17.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, February 13th.

Palatin Technologies Price Performance

The stock has a market capitalization of $26.01 million, a P/E ratio of -0.65 and a beta of 0.87.

Institutional Trading of Palatin Technologies

Institutional investors have recently bought and sold shares of the company. XTX Topco Ltd lifted its position in shares of Palatin Technologies by 98.6% in the third quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 14,432 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Palatin Technologies in the fourth quarter valued at $34,000. Two Sigma Securities LLC purchased a new stake in shares of Palatin Technologies in the fourth quarter valued at $40,000. HB Wealth Management LLC lifted its position in shares of Palatin Technologies by 86.3% in the fourth quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 51,200 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Palatin Technologies in the third quarter valued at $51,000. 11.50% of the stock is currently owned by hedge funds and other institutional investors.

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 lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.