HealthCor Management L.P. Buys 476,710 Shares of Polarityte Inc (COOL)
HealthCor Management L.P. increased its stake in Polarityte Inc (NASDAQ:COOL) by 194.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 721,290 shares of the company’s stock after purchasing an additional 476,710 shares during the quarter. HealthCor Management L.P.’s holdings in Polarityte were worth $13,777,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in COOL. Bank of Montreal Can purchased a new stake in Polarityte during the second quarter worth approximately $119,000. Bank of New York Mellon Corp purchased a new position in shares of Polarityte in the second quarter valued at $484,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Polarityte in the second quarter valued at $382,000. First Allied Advisory Services Inc. purchased a new position in shares of Polarityte in the second quarter valued at $431,000. Finally, BlackRock Inc. boosted its stake in shares of Polarityte by 3,211.3% in the second quarter. BlackRock Inc. now owns 714,059 shares of the company’s stock valued at $16,809,000 after purchasing an additional 692,495 shares during the period. Institutional investors own 43.14% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Polarityte from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. BidaskClub downgraded shares of Polarityte from a “buy” rating to a “hold” rating in a research note on Wednesday, September 5th. Cantor Fitzgerald set a $65.00 target price on shares of Polarityte and gave the company a “buy” rating in a research note on Wednesday, September 12th. Finally, ValuEngine downgraded shares of Polarityte from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th.
Polarityte (NASDAQ:COOL) last announced its earnings results on Wednesday, September 12th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.26). The firm had revenue of $0.42 million for the quarter.
In related news, CFO Paul Elliot Mann purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The shares were purchased at an average cost of $17.24 per share, with a total value of $344,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 120,000 shares of the company’s stock, valued at approximately $2,068,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 43.30% of the company’s stock.
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Polarityte Company Profile
PolarityTE, Inc engages in the regenerative medicine and tissue engineering platform. The firm seeks to develop and obtain regulatory approval for technology that will utilize a patient’s own tissue substrates for the regeneration of skin, bone, muscle, cartilage, fat, blood vessels and nerves. Its products include SkinTE, OsteoTE, AngioTE, MyoTE, CartTe, AdiposeTE, and NeuralTE.
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