Polarityte Inc (NASDAQ:PTE) President David B. Seaburg sold 16,333 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $3.02, for a total transaction of $49,325.66. Following the transaction, the president now owns 372,701 shares in the company, valued at approximately $1,125,557.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
PTE opened at $1.68 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 3.62. Polarityte Inc has a fifty-two week low of $1.64 and a fifty-two week high of $17.75. The firm has a market capitalization of $84.72 million, a PE ratio of -0.35 and a beta of 1.60. The company’s 50-day moving average is $3.15 and its 200 day moving average is $3.44.
Polarityte (NASDAQ:PTE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.87) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.01) by $0.14. The business had revenue of $1.40 million during the quarter, compared to analyst estimates of $1.41 million. During the same quarter in the prior year, the company earned ($0.86) EPS. As a group, analysts expect that Polarityte Inc will post -3.85 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Comprehensive Portfolio Management LLC increased its stake in Polarityte by 74.2% in the 4th quarter. Comprehensive Portfolio Management LLC now owns 58,700 shares of the company’s stock valued at $153,000 after buying an additional 25,000 shares during the last quarter. BlackRock Inc. increased its stake in Polarityte by 24.9% in the 2nd quarter. BlackRock Inc. now owns 988,361 shares of the company’s stock valued at $5,634,000 after buying an additional 196,956 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Polarityte in the 3rd quarter valued at about $109,000. Bank of New York Mellon Corp increased its stake in Polarityte by 48.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 47,889 shares of the company’s stock valued at $273,000 after buying an additional 15,707 shares during the last quarter. Finally, Bernardo Wealth Planning LLC grew its position in shares of Polarityte by 91.7% during the 3rd quarter. Bernardo Wealth Planning LLC now owns 23,000 shares of the company’s stock valued at $74,000 after acquiring an additional 11,000 shares during the period. Institutional investors own 32.59% of the company’s stock.
A number of research firms recently weighed in on PTE. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Polarityte in a report on Wednesday, November 13th. Piper Jaffray Companies lowered their target price on shares of Polarityte from $26.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Cantor Fitzgerald lowered their target price on shares of Polarityte from $50.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Northland Securities restated a “buy” rating and issued a $20.00 target price on shares of Polarityte in a report on Thursday, December 5th. Finally, Zacks Investment Research upgraded shares of Polarityte from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Wednesday, January 1st. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $11.75.
Polarityte Company Profile
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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