National Asset Management Inc. increased its stake in Palatin Technologies, Inc. (NYSE:PTN) by 46.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,000 shares of the biopharmaceutical company’s stock after buying an additional 100,000 shares during the period. National Asset Management Inc. owned about 0.23% of Palatin Technologies worth $104,000 at the end of the most recent quarter.
Separately, Sabby Management LLC raised its position in Palatin Technologies by 21.1% in the first quarter. Sabby Management LLC now owns 2,025,729 shares of the biopharmaceutical company’s stock valued at $663,000 after buying an additional 353,156 shares in the last quarter.
Shares of Palatin Technologies, Inc. (NYSE PTN) opened at 0.4358 on Wednesday. The stock’s market capitalization is $66.59 million. The company has a 50-day moving average of $0.39 and a 200 day moving average of $0.39. Palatin Technologies, Inc. has a one year low of $0.29 and a one year high of $0.90.
Palatin Technologies (NYSE:PTN) last posted its quarterly earnings data on Thursday, May 18th. The biopharmaceutical company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by $0.12. The company had revenue of $10.82 million during the quarter, compared to analyst estimates of $60 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Equities research analysts forecast that Palatin Technologies, Inc. will post ($0.06) earnings per share for the current fiscal year.
Separately, Canaccord Genuity reiterated a “buy” rating and set a $6.00 price target on shares of Palatin Technologies in a report on Thursday, June 1st.
About Palatin Technologies
Palatin Technologies, Inc is a biopharmaceutical company. The Company is engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Its programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.
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