Palatin Technologies (NYSEAMERICAN:PTN) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.00 and traded as high as $0.82. Palatin Technologies shares last traded at $0.77, with a volume of 315,521 shares traded.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright decreased their price objective on shares of Palatin Technologies from $17.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, February 13th.

Palatin Technologies Price Performance

The business’s 50 day moving average is $1.01. The company has a market cap of $20.10 million, a P/E ratio of -0.50 and a beta of 0.87.

Hedge Funds Weigh In On Palatin Technologies

Several hedge funds have recently made changes to their positions in PTN. Squarepoint Ops LLC acquired a new stake in shares of Palatin Technologies in the fourth quarter valued at approximately $34,000. Two Sigma Securities LLC acquired a new position in shares of Palatin Technologies during the fourth quarter worth about $40,000. HB Wealth Management LLC raised its holdings in Palatin Technologies by 86.3% during the fourth quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 51,200 shares in the last quarter. Virtu Financial LLC acquired a new stake in Palatin Technologies in the third quarter valued at about $51,000. Finally, XTX Topco Ltd lifted its position in Palatin Technologies by 98.6% in the third quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 14,432 shares during the period. Hedge funds and other institutional investors own 11.50% of the company’s stock.

Palatin Technologies Company Profile

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.