Palatin Technologies, Inc. (NYSEAMERICAN:PTN) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 5,249,893 shares, a growth of 0.4% from the February 15th total of 5,230,314 shares. Based on an average trading volume of 991,366 shares, the days-to-cover ratio is currently 5.3 days. Approximately 8.0% of the company’s shares are short sold.
Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Palatin Technologies by 500.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 151,473 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 126,236 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Palatin Technologies by 79,946.5% during the 4th quarter. Wells Fargo & Company MN now owns 160,093 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 159,893 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Palatin Technologies during the 3rd quarter valued at approximately $149,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Palatin Technologies during the 4th quarter valued at approximately $149,000. Finally, Millennium Management LLC lifted its position in shares of Palatin Technologies by 1,031.6% during the 4th quarter. Millennium Management LLC now owns 272,717 shares of the biopharmaceutical company’s stock valued at $234,000 after buying an additional 248,617 shares in the last quarter.
Shares of Palatin Technologies (PTN) remained flat at $$0.97 on Friday. The company’s stock had a trading volume of 831,564 shares, compared to its average volume of 1,107,701. Palatin Technologies has a one year low of $0.29 and a one year high of $1.05. The firm has a market capitalization of $184.13, a price-to-earnings ratio of 8.08 and a beta of 1.83.
Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings data on Monday, February 12th. The biopharmaceutical company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.19. Palatin Technologies had a return on equity of 155.80% and a net margin of 28.55%. The business had revenue of $10.61 million for the quarter. During the same quarter in the prior year, the company posted ($0.06) EPS.
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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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