Polarityte Inc (NASDAQ:COOL) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 981,455 shares, an increase of 46.2% from the February 15th total of 671,402 shares. Approximately 12.8% of the shares of the company are sold short. Based on an average trading volume of 170,577 shares, the days-to-cover ratio is currently 5.8 days.
In related news, major shareholder Barry C. Honig purchased 15,400 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $17.62 per share, with a total value of $271,348.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Barry C. Honig sold 1,400 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $17.88, for a total value of $25,032.00. The disclosure for this sale can be found here. Insiders own 59.91% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Gilder Gagnon Howe & Co. LLC acquired a new position in Polarityte in the fourth quarter valued at about $1,507,000. Ardsley Advisory Partners acquired a new position in Polarityte in the fourth quarter valued at about $327,000. Wells Fargo & Company MN raised its stake in Polarityte by 41.3% in the second quarter. Wells Fargo & Company MN now owns 5,650 shares of the company’s stock valued at $131,000 after purchasing an additional 1,650 shares in the last quarter. Millennium Management LLC acquired a new position in Polarityte in the fourth quarter valued at about $3,057,000. Finally, Advisor Group Inc. raised its stake in Polarityte by 133.6% in the fourth quarter. Advisor Group Inc. now owns 49,180 shares of the company’s stock valued at $1,141,000 after purchasing an additional 28,130 shares in the last quarter. 10.94% of the stock is owned by institutional investors and hedge funds.
Polarityte (COOL) opened at $18.50 on Wednesday. Polarityte has a 52 week low of $7.00 and a 52 week high of $32.63.
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PolarityTE, Inc, formerly Majesco Entertainment Company, is the owner of patent applications and know-how related to regenerative medicine and tissue engineering, as well as software applications used in diagnosis and treatment related to regenerative medicine. The Company seeks to develop and obtain regulatory approval for technology that will utilize a patient’s own tissue substrates for the regeneration of skin, bone, muscle, cartilage, fat, blood vessels and nerves.
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