Palatin Technologies, Inc. (NYSEAMERICAN:PTN) Major Shareholder Stephen T. Wills Purchases 1,500 Shares

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) major shareholder Stephen T. Wills purchased 1,500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average price of $25.31 per share, for a total transaction of $37,965.00. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of PTN traded up $0.08 during mid-day trading on Monday, reaching $0.99. The stock had a trading volume of 2,510,443 shares, compared to its average volume of 2,063,947. Palatin Technologies, Inc. has a 52-week low of $0.59 and a 52-week high of $1.78.

A number of analysts have commented on the stock. HC Wainwright set a $8.00 price objective on shares of Palatin Technologies and gave the company a “buy” rating in a report on Monday, June 24th. Zacks Investment Research cut Palatin Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, LADENBURG THALM/SH SH set a $3.00 price target on Palatin Technologies and gave the company a “buy” rating in a research report on Thursday, May 23rd.

Hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP acquired a new position in Palatin Technologies in the 2nd quarter valued at about $117,000. Citadel Advisors LLC grew its stake in shares of Palatin Technologies by 269.3% in the 2nd quarter. Citadel Advisors LLC now owns 87,658 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 63,921 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Palatin Technologies during the 2nd quarter worth approximately $34,000. Vanguard Group Inc. increased its holdings in shares of Palatin Technologies by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,318,477 shares of the biopharmaceutical company’s stock worth $10,809,000 after buying an additional 329,223 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Palatin Technologies during the 2nd quarter valued at approximately $223,000.

Palatin Technologies Company Profile

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted, receptor-specific therapeutics for the treatment of various diseases in the United States. The company's principal product is Vyleesi, an on demand subcutaneous injectable product that has completed Phase III clinical studies for the treatment of premenopausal women with acquired, generalized hypoactive sexual desire disorder.

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