PureTech Health (NASDAQ:PRTC) Sees Strong Trading Volume – Here’s What Happened

Shares of PureTech Health plc (NASDAQ:PRTC) saw strong trading volume on Wednesday . 8,337 shares changed hands during trading, an increase of 103% from the previous session’s volume of 4,116 shares.The stock last traded at $22.20 and had previously closed at $21.24.

Analysts Set New Price Targets

PRTC has been the subject of a number of recent analyst reports. Leerink Partners initiated coverage on PureTech Health in a research report on Monday, September 9th. They set an “outperform” rating and a $45.00 target price for the company. Leerink Partnrs raised shares of PureTech Health to a “strong-buy” rating in a research report on Monday, September 9th.

PureTech Health Stock Performance

The company has a 50 day simple moving average of $20.63 and a 200 day simple moving average of $23.23.

Hedge Funds Weigh In On PureTech Health

An institutional investor recently bought a new position in PureTech Health stock. Birch Hill Investment Advisors LLC purchased a new stake in PureTech Health plc (NASDAQ:PRTC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 302,000 shares of the company’s stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned 1.26% of PureTech Health at the end of the most recent quarter. Institutional investors and hedge funds own 0.04% of the company’s stock.

PureTech Health Company Profile

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.