Short Interest in Palatin Technologies, Inc. (PTN) Grows By 13.5%
Palatin Technologies, Inc. (NYSE:PTN) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 10,056,495 shares, an increase of 13.5% from the April 28th total of 8,860,354 shares. Based on an average daily trading volume, of 2,453,264 shares, the short-interest ratio is presently 4.1 days. Currently, 7.6% of the shares of the stock are short sold.
Hedge funds and other institutional investors have recently modified their holdings of the company. Broadfin Capital LLC purchased a new position in shares of Palatin Technologies during the fourth quarter valued at about $1,943,000. Baker BROS. Advisors LP purchased a new position in shares of Palatin Technologies during the third quarter valued at about $1,289,000. Sphera Funds Management LTD. increased its position in shares of Palatin Technologies by 87.7% in the third quarter. Sphera Funds Management LTD. now owns 1,906,037 shares of the biopharmaceutical company’s stock valued at $1,199,000 after buying an additional 890,663 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Palatin Technologies by 22.0% in the first quarter. Vanguard Group Inc. now owns 4,521,196 shares of the biopharmaceutical company’s stock valued at $1,481,000 after buying an additional 814,511 shares in the last quarter. Finally, Sabby Management LLC increased its position in shares of Palatin Technologies by 21.1% in the first quarter. Sabby Management LLC now owns 2,025,729 shares of the biopharmaceutical company’s stock valued at $663,000 after buying an additional 353,156 shares in the last quarter.
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