PureTech Health (NASDAQ:PRTC) Shares Gap Up – Should You Buy?

PureTech Health plc (NASDAQ:PRTC)’s share price gapped up prior to trading on Monday . The stock had previously closed at $20.35, but opened at $22.73. PureTech Health shares last traded at $23.12, with a volume of 11,986 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on PRTC. Leerink Partnrs raised PureTech Health to a “strong-buy” rating in a report on Monday, September 9th. Leerink Partners began coverage on PureTech Health in a report on Monday, September 9th. They issued an “outperform” rating and a $45.00 target price for the company.

PureTech Health Stock Performance

The firm has a 50 day moving average price of $21.18 and a 200-day moving average price of $22.54.

Institutional Trading of PureTech Health

A hedge fund recently bought a new stake in PureTech Health stock. Birch Hill Investment Advisors LLC acquired a new position in shares of PureTech Health plc (NASDAQ:PRTC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 302,000 shares of the company’s stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned approximately 1.26% of PureTech Health at the end of the most recent reporting period. Institutional investors and hedge funds own 0.04% of the company’s stock.

About PureTech Health

PureTech Health plc, engages in the development and commercialization of biotechnology and pharmaceutical solutions in the United States. The company is developing LYT-100, which is under Phase 2 stage, to treat idiopathic pulmonary fibrosis (IPF); and LYT-200, a IgG4 monoclonal antibody, currently under Phase 1/2 stage, targeting galectin-9 for treating solid tumors and hematological malignancies.