Palatin Technologies (NYSEAMERICAN:PTN) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) passed 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 traded.

Analyst Upgrades and Downgrades

Separately, HC Wainwright decreased their target price on Palatin Technologies from $17.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, February 13th.

Palatin Technologies Stock Performance

The stock has a market cap of $19.94 million, a PE ratio of -0.66 and a beta of 0.87.

Institutional Trading of Palatin Technologies

A number of large investors have recently modified their holdings of the company. XTX Topco Ltd increased its holdings in Palatin Technologies by 98.6% during the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 14,432 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Palatin Technologies in the 4th quarter worth $34,000. Two Sigma Securities LLC bought a new position in shares of Palatin Technologies during the 4th quarter worth $40,000. Virtu Financial LLC purchased a new position in shares of Palatin Technologies during the third quarter valued at $51,000. Finally, HB Wealth Management LLC raised its holdings 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. Hedge funds and other institutional investors own 11.50% of the company’s stock.

Palatin Technologies Company Profile

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.