Pluristem Therapeutics (NASDAQ:PSTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, March 15th. The brokerage currently has a $1.75 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 41.13% from the company’s current price.
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. “
PSTI has been the topic of several other research reports. ValuEngine cut shares of Pluristem Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 20th. HC Wainwright set a $4.00 target price on shares of Pluristem Therapeutics and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Maxim Group set a $3.00 target price on shares of Pluristem Therapeutics and gave the company a “buy” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Pluristem Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $3.38.
Shares of NASDAQ:PSTI traded down $0.06 during midday trading on Thursday, reaching $1.24. The company’s stock had a trading volume of 1,465,794 shares, compared to its average volume of 474,422. Pluristem Therapeutics has a 12-month low of $1.06 and a 12-month high of $2.12. The company has a market capitalization of $137.48, a PE ratio of -3.88 and a beta of 0.28.
In other Pluristem Therapeutics news, Director Mark Germain sold 45,873 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $1.48, for a total transaction of $67,892.04. Following the sale, the director now owns 525,584 shares in the company, valued at approximately $777,864.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSTI. ARK Investment Management LLC raised its stake in Pluristem Therapeutics by 363.5% during the 4th quarter. ARK Investment Management LLC now owns 290,922 shares of the biotechnology company’s stock worth $401,000 after acquiring an additional 228,149 shares during the period. Psagot Investment House Ltd. raised its stake in Pluristem Therapeutics by 1,705.2% during the 3rd quarter. Psagot Investment House Ltd. now owns 129,522 shares of the biotechnology company’s stock worth $196,000 after acquiring an additional 122,347 shares during the period. Meitav Dash Investments Ltd. bought a new stake in Pluristem Therapeutics during the 4th quarter worth approximately $138,000. Finally, Jane Street Group LLC raised its stake in Pluristem Therapeutics by 15.0% during the 3rd quarter. Jane Street Group LLC now owns 266,043 shares of the biotechnology company’s stock worth $402,000 after acquiring an additional 34,742 shares during the period. Institutional investors own 4.20% of the company’s stock.
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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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