Pain Therapeutics (PTIE) Stock Price Up 9.3%

Pain Therapeutics, Inc. (NASDAQ:PTIE) shares rose 9.3% during trading on Thursday . The stock traded as high as $1.32 and last traded at $1.29. Approximately 1,721,112 shares traded hands during mid-day trading, an increase of 51% from the average daily volume of 1,136,843 shares. The stock had previously closed at $1.18.

Separately, ValuEngine raised Pain Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday.

The company has a market capitalization of $8.52 million, a P/E ratio of -0.67 and a beta of 1.83.

Pain Therapeutics (NASDAQ:PTIE) last posted its quarterly earnings data on Monday, October 29th. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.50.

In related news, major shareholder Armistice Capital Master Fund sold 512,660 shares of the stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $1.31, for a total transaction of $671,584.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Armistice Capital, Llc sold 1,200,000 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $1.02, for a total value of $1,224,000.00. The disclosure for this sale can be found here. Insiders have sold 2,968,660 shares of company stock valued at $3,176,705 in the last quarter. 31.40% of the stock is currently owned by company insiders.

A hedge fund recently raised its stake in Pain Therapeutics stock. Northern Trust Corp increased its holdings in shares of Pain Therapeutics, Inc. (NASDAQ:PTIE) by 152.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,144 shares of the biopharmaceutical company’s stock after purchasing an additional 23,062 shares during the quarter. Northern Trust Corp owned approximately 0.55% of Pain Therapeutics worth $270,000 at the end of the most recent reporting period. Institutional investors own 32.88% of the company’s stock.

About Pain Therapeutics (NASDAQ:PTIE)

Pain Therapeutics, Inc develops drugs for nervous system disorders in the United States. The company's lead drug candidate is REMOXY, a proprietary abuse-deterrent oral formulation of oxycodone to treat severe chronic pain. It is also developing FENROCK, a proprietary abuse-deterrent transdermal pain patch for pain relief; PTI-125, a small molecule drug candidate to treat Alzheimer's disease; and PTI-125DX, a blood-based diagnostic/biomarker to detect Alzheimer's disease.

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