Palatin Technologies, Inc. (PTN) Shares Gap Down to $0.62

Palatin Technologies, Inc. (NYSE:PTN) gapped down prior to trading on Tuesday . The stock had previously closed at $0.65, but opened at $0.62. Palatin Technologies shares last traded at $0.60, with a volume of 2,138,780 shares.

PTN has been the topic of a number of recent research reports. Canaccord Genuity restated a “buy” rating and issued a $6.00 price objective on shares of Palatin Technologies in a report on Thursday, June 1st. Zacks Investment Research cut shares of Palatin Technologies from a “hold” rating to a “sell” rating in a report on Saturday, July 29th.

The firm’s market cap is $91.68 million. The firm has a 50 day moving average price of $0.43 and a 200 day moving average price of $0.39.

An institutional investor recently raised its position in Palatin Technologies stock. National Asset Management Inc. raised its holdings in shares of Palatin Technologies, Inc. (NYSE:PTN) by 46.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 315,000 shares of the biopharmaceutical company’s stock after purchasing an additional 100,000 shares during the period. National Asset Management Inc. owned 0.23% of Palatin Technologies worth $104,000 at the end of the most recent reporting period.

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Palatin Technologies Company Profile

Palatin Technologies, Inc is a biopharmaceutical company. The Company is engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Its programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.

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