Polarityte Inc (NASDAQ:PTE) Insider Purchases $11,320.00 in Stock

Polarityte Inc (NASDAQ:PTE) insider Edward Winslow Swanson purchased 2,000 shares of Polarityte stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average cost of $5.66 per share, with a total value of $11,320.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Edward Winslow Swanson also recently made the following trade(s):

  • On Wednesday, June 5th, Edward Winslow Swanson purchased 2,000 shares of Polarityte stock. The stock was acquired at an average cost of $5.68 per share, with a total value of $11,360.00.

Shares of Polarityte stock traded down $0.11 during mid-day trading on Friday, reaching $5.81. 247,082 shares of the stock traded hands, compared to its average volume of 418,431. Polarityte Inc has a fifty-two week low of $4.96 and a fifty-two week high of $41.22. The stock has a market capitalization of $143.63 million, a P/E ratio of -1.20 and a beta of 1.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.59 and a quick ratio of 5.55.

Polarityte (NASDAQ:PTE) last announced its earnings results on Friday, May 10th. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.17). Polarityte had a negative net margin of 4,259.44% and a negative return on equity of 99.38%. The firm had revenue of $1.50 million for the quarter, compared to analyst estimates of $1.33 million. Polarityte’s quarterly revenue was up 49900.0% compared to the same quarter last year. As a group, research analysts anticipate that Polarityte Inc will post -4.46 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. acquired a new position in shares of Polarityte during the first quarter valued at approximately $427,000. Cheyne Capital Management UK LLP acquired a new position in shares of Polarityte during the first quarter valued at approximately $1,056,000. Advisor Group Inc. acquired a new position in shares of Polarityte during the first quarter valued at approximately $2,242,000. Rhumbline Advisers acquired a new position in shares of Polarityte during the first quarter valued at approximately $132,000. Finally, Glassman Wealth Services acquired a new position in shares of Polarityte during the first quarter valued at approximately $45,000. 42.32% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on PTE. Zacks Investment Research raised Polarityte from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. Piper Jaffray Companies set a $30.00 price target on Polarityte and gave the stock a “buy” rating in a report on Monday, March 18th. National Securities reduced their price target on Polarityte from $5.00 to $3.00 and set a “sell” rating for the company in a report on Monday, May 13th. Cantor Fitzgerald set a $65.00 price target on Polarityte and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Northland Securities set a $50.00 price target on Polarityte and gave the stock a “buy” rating in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Polarityte has an average rating of “Hold” and an average price target of $34.00.

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About Polarityte

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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