PureTech Health (NASDAQ:PRTC) Sees Unusually-High Trading Volume – Should You Buy?

Shares of PureTech Health plc (NASDAQ:PRTC) saw strong trading volume on Wednesday . 8,337 shares changed hands during trading, an increase of 103% from the previous session’s volume of 4,116 shares.The stock last traded at $22.20 and had previously closed at $21.24.

Wall Street Analysts Forecast Growth

PRTC has been the topic of several research analyst reports. Leerink Partnrs upgraded PureTech Health to a “strong-buy” rating in a research report on Monday, September 9th. Leerink Partners initiated coverage on PureTech Health in a report on Monday, September 9th. They set an “outperform” rating and a $45.00 target price on the stock.

PureTech Health Stock Up 10.1 %

The business’s fifty day moving average is $20.75 and its 200 day moving average is $23.18.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PureTech Health stock. Birch Hill Investment Advisors LLC bought a new position in PureTech Health plc (NASDAQ:PRTC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 302,000 shares of the company’s stock, valued at approximately $7,550,000. Birch Hill Investment Advisors LLC owned about 1.26% of PureTech Health as of its most recent SEC filing. 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.