Palatin Technologies (NYSEAMERICAN:PTN) Trading Up 5.8%

Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) were up 5.8% during trading on Friday . The stock traded as high as $0.93 and last traded at $0.93, approximately 1,444,252 shares changed hands during trading. A decline of 34% from the average daily volume of 2,181,771 shares. The stock had previously closed at $0.88.

Several research firms have recently issued reports on PTN. HC Wainwright set a $8.00 target price on shares of Palatin Technologies and gave the stock a “buy” rating in a report on Monday, June 24th. LADENBURG THALM/SH SH set a $3.00 price target on shares of Palatin Technologies and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research raised shares of Palatin Technologies from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a research report on Wednesday, July 3rd.

In other Palatin Technologies news, insider Carl Spana acquired 50,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $0.86 per share, for a total transaction of $43,000.00. Following the purchase, the insider now owns 5,953,852 shares in the company, valued at approximately $5,120,312.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 73,380 shares of company stock valued at $63,043.

Several large investors have recently bought and sold shares of the company. Susquehanna International Group LLP purchased a new position in shares of Palatin Technologies during the 2nd quarter valued at approximately $117,000. Citadel Advisors LLC increased its holdings in shares of Palatin Technologies by 269.3% during the 2nd quarter. Citadel Advisors LLC now owns 87,658 shares of the biopharmaceutical company’s stock valued at $102,000 after purchasing an additional 63,921 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Palatin Technologies during the 2nd quarter valued at approximately $34,000. Vanguard Group Inc. increased its holdings in shares of Palatin Technologies by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,318,477 shares of the biopharmaceutical company’s stock valued at $10,809,000 after purchasing an additional 329,223 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in shares of Palatin Technologies during the 2nd quarter valued at approximately $223,000.

Palatin Technologies Company Profile (NYSEAMERICAN:PTN)

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted, receptor-specific therapeutics for the treatment of various diseases in the United States. The company's principal product is Vyleesi, an on demand subcutaneous injectable product that has completed Phase III clinical studies for the treatment of premenopausal women with acquired, generalized hypoactive sexual desire disorder.

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