Pluristem Therapeutics (NASDAQ:PSTI) Rating Lowered to Hold at Zacks Investment Research

Pluristem Therapeutics (NASDAQ:PSTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “PLURISTEM THERAPEUTICS INC. is a bio-therapeutics company dedicated to the commercialization of non-personalized (allogeneic) cell therapy products for the treatment of several severe degenerative, ischemic and autoimmune disorders. The Company is developing a pipeline of products, stored ready-to-use, that are derived from the human placenta, a non-controversial source, and not from embryonic stem cells. “

Several other equities analysts also recently weighed in on PSTI. BidaskClub raised shares of Pluristem Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, December 8th. Dawson James reaffirmed a “buy” rating and set a $12.00 price target on shares of Pluristem Therapeutics in a report on Friday, October 9th. Jefferies Financial Group downgraded shares of Pluristem Therapeutics from a “buy” rating to a “hold” rating and set a $6.00 price target on the stock. in a report on Thursday, December 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target (down previously from $15.50) on shares of Pluristem Therapeutics in a report on Monday, December 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $9.70.

Shares of NASDAQ:PSTI opened at $8.10 on Tuesday. Pluristem Therapeutics has a 1-year low of $2.82 and a 1-year high of $13.29. The firm’s 50 day simple moving average is $7.91 and its two-hundred day simple moving average is $9.20.

In related news, major shareholder Clover Wolf Capital – Limited acquired 20,000 shares of Pluristem Therapeutics stock in a transaction dated Monday, November 30th. The shares were purchased at an average price of $9.70 per share, for a total transaction of $194,000.00. Following the completion of the transaction, the insider now directly owns 4,077,589 shares in the company, valued at approximately $39,552,613.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC increased its position in Pluristem Therapeutics by 49.2% in the third quarter. ARK Investment Management LLC now owns 1,743,618 shares of the biotechnology company’s stock worth $18,360,000 after purchasing an additional 575,002 shares during the last quarter. California Public Employees Retirement System increased its position in Pluristem Therapeutics by 167.9% in the third quarter. California Public Employees Retirement System now owns 48,670 shares of the biotechnology company’s stock worth $512,000 after purchasing an additional 30,500 shares during the last quarter. Raymond James & Associates increased its position in Pluristem Therapeutics by 111.8% in the third quarter. Raymond James & Associates now owns 36,467 shares of the biotechnology company’s stock worth $384,000 after purchasing an additional 19,249 shares during the last quarter. Aristides Capital LLC bought a new stake in Pluristem Therapeutics in the third quarter worth $330,000. Finally, Advisor Group Holdings Inc. increased its position in Pluristem Therapeutics by 716.2% in the second quarter. Advisor Group Holdings Inc. now owns 15,100 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 13,250 shares during the last quarter. Institutional investors own 8.71% of the company’s stock.

About Pluristem Therapeutics

Pluristem Therapeutics Inc, together with its subsidiary, Pluristem Ltd., operates as a bio-therapeutics company in Israel. It focuses on the research, development, clinical trial, and manufacture of cell therapeutic products and related technologies for the treatment of various ischemic, inflammatory, and hematologic conditions, as well as autoimmune disorders.

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