Pain Therapeutics, Inc. (NASDAQ:PTIE) was up 11.7% during mid-day trading on Friday . The company traded as high as $1.24 and last traded at $1.24. Approximately 0 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 249,125 shares. The stock had previously closed at $1.11.
Pain Therapeutics (NASDAQ:PTIE) last posted its quarterly earnings results on Monday, March 25th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.57.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its position in Pain Therapeutics by 11.4% in the fourth quarter. BlackRock Inc. now owns 226,066 shares of the biopharmaceutical company’s stock worth $193,000 after acquiring an additional 23,204 shares during the period. Geode Capital Management LLC grew its position in Pain Therapeutics by 75.0% in the fourth quarter. Geode Capital Management LLC now owns 66,068 shares of the biopharmaceutical company’s stock worth $56,000 after acquiring an additional 28,314 shares during the period. Finally, Vanguard Group Inc grew its position in Pain Therapeutics by 20.7% in the third quarter. Vanguard Group Inc now owns 218,850 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 37,466 shares during the period. Institutional investors and hedge funds own 17.40% of the company’s stock.
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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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