Pain Therapeutics, Inc. (PTIE) Major Shareholder Sells $671,584.60 in Stock

Pain Therapeutics, Inc. (NASDAQ:PTIE) major shareholder Armistice Capital Master Fund sold 512,660 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $1.31, for a total value of $671,584.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Armistice Capital Master Fund also recently made the following trade(s):

  • On Monday, August 20th, Armistice Capital Master Fund sold 1,256,000 shares of Pain Therapeutics stock. The stock was sold at an average price of $1.02, for a total value of $1,281,120.00.

Shares of NASDAQ:PTIE opened at $1.32 on Monday. Pain Therapeutics, Inc. has a 12-month low of $0.81 and a 12-month high of $12.80. The stock has a market capitalization of $7.05 million, a price-to-earnings ratio of -0.73 and a beta of 2.62.

Pain Therapeutics (NASDAQ:PTIE) last issued its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.29.

An institutional investor recently raised its position in Pain Therapeutics stock. Northern Trust Corp boosted its holdings in Pain Therapeutics, Inc. (NASDAQ:PTIE) by 152.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,144 shares of the biopharmaceutical company’s stock after buying an additional 23,062 shares during the period. Northern Trust Corp owned 0.55% of Pain Therapeutics worth $270,000 at the end of the most recent reporting period. 32.88% of the stock is currently owned by hedge funds and other institutional investors.

Pain Therapeutics Company Profile

Pain Therapeutics, Inc develops drugs for nervous system disorders in the United States. The company's lead drug candidate is REMOXY, a proprietary abuse-deterrent oral formulation of oxycodone to treat severe chronic pain. It is also developing FENROCK, a proprietary abuse-deterrent transdermal pain patch for pain relief; PTI-125, a small molecule drug candidate to treat Alzheimer's disease; and PTI-125DX, a blood-based diagnostic/biomarker to detect Alzheimer's disease.

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