Polarityte (COOL) Downgraded by BidaskClub
Polarityte (NASDAQ:COOL) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.
Several other analysts have also commented on COOL. Zacks Investment Research lowered Polarityte from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Cantor Fitzgerald cut their price objective on Polarityte from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, June 12th. Finally, ValuEngine lowered Polarityte from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th.
Shares of COOL opened at $20.45 on Wednesday. Polarityte has a one year low of $15.21 and a one year high of $41.22. The firm has a market capitalization of $437.82 million, a P/E ratio of -0.77 and a beta of 1.11.
In related news, Director Peter A. Cohen bought 6,000 shares of the stock in a transaction that occurred on Wednesday, July 25th. The shares were bought at an average cost of $23.20 per share, for a total transaction of $139,200.00. Following the completion of the transaction, the director now owns 45,000 shares of the company’s stock, valued at $1,044,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 43.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COOL. MetLife Investment Advisors LLC purchased a new position in Polarityte during the second quarter valued at $100,000. Bank of Montreal Can purchased a new position in Polarityte during the second quarter valued at $119,000. Suntrust Banks Inc. purchased a new position in Polarityte during the first quarter valued at $181,000. Capital Management Associates NY purchased a new position in Polarityte during the second quarter valued at $200,000. Finally, Point72 Asset Management L.P. purchased a new position in Polarityte during the second quarter valued at $256,000. Institutional investors own 43.14% of the company’s stock.
PolarityTE, Inc operates as commercial-stage biotechnology and regenerative biomaterials company in the United States. The company focuses on discovering, designing and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences.
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