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

PureTech Health plc (NASDAQ:PRTC) gapped down before the market opened on Wednesday . The stock had previously closed at $22.56, but opened at $22.05. PureTech Health shares last traded at $22.05, with a volume of 361 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Leerink Partners began coverage on PureTech Health in a research note 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 report on Monday, September 9th.

PureTech Health Stock Down 2.3 %

The firm has a fifty day moving average of $21.10 and a 200 day moving average of $22.72.

Hedge Funds Weigh In On PureTech Health

An institutional investor recently bought a new position in PureTech Health stock. Birch Hill Investment Advisors LLC bought a new stake in PureTech Health plc (NASDAQ:PRTC) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 302,000 shares of the company’s stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned about 1.26% of PureTech Health at the end of the most recent reporting period. Institutional investors own 0.04% of the company’s stock.

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.