Polarityte Inc (NASDAQ:PTE) Director Denver Lough sold 10,000 shares of Polarityte stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $4.17, for a total value of $41,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of PTE opened at $3.95 on Wednesday. Polarityte Inc has a 52-week low of $2.10 and a 52-week high of $18.14. The business’s fifty day moving average is $2.94 and its 200-day moving average is $3.67. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.62 and a current ratio of 3.65. The firm has a market cap of $108.42 million, a price-to-earnings ratio of -0.81 and a beta of 1.63.
Polarityte (NASDAQ:PTE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.87) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.01) by $0.14. The business had revenue of $1.40 million during the quarter, compared to the consensus estimate of $1.41 million. During the same quarter in the previous year, the business posted ($0.86) EPS. As a group, research analysts forecast that Polarityte Inc will post -3.85 EPS for the current fiscal year.
Several equities analysts have weighed in on the company. Northland Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Polarityte in a report on Thursday, December 5th. Zacks Investment Research raised Polarityte from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Wednesday, January 1st. Cantor Fitzgerald dropped their price objective on Polarityte from $50.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Polarityte in a report on Wednesday, November 13th. Finally, Piper Jaffray Companies decreased their price target on Polarityte from $26.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.75.
Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC bought a new stake in Polarityte during the 1st quarter worth $24,884,000. BlackRock Inc. grew its position in Polarityte by 24.9% during the 2nd quarter. BlackRock Inc. now owns 988,361 shares of the company’s stock worth $5,634,000 after acquiring an additional 196,956 shares during the last quarter. Vanguard Group Inc. grew its position in Polarityte by 22.1% during the 2nd quarter. Vanguard Group Inc. now owns 632,559 shares of the company’s stock worth $3,606,000 after acquiring an additional 114,413 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in Polarityte during the 2nd quarter worth $353,000. Finally, Janney Montgomery Scott LLC bought a new stake in Polarityte during the 3rd quarter worth $109,000. Institutional investors own 32.57% of the company’s stock.
PolarityTE, Inc, a biotechnology and regenerative biomaterials company, focuses on discovering, designing, and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine and Contract Services.
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