Palatin Technologies Inc. (AMEX:PTN) has a beta value of 0.89 and has seen 9.08 million shares traded in the recent trading session. The company, currently valued at $34.38M, closed the recent trade at $2.13 per share which meant it gained $0.37 on the day or 21.02% during that session. The PTN stock price is -165.26% off its 52-week high price of $5.65 and 32.86% above the 52-week low of $1.43. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.14 million shares traded. The 3-month trading volume is 508.91K shares.
Palatin Technologies Inc. (AMEX:PTN) trade information
Sporting 21.02% in the green today, the stock has traded in the green over the last five days, when the PTN stock price touched $2.13 or saw a rise of 26.04%. Year-to-date, Palatin Technologies Inc. shares have moved -46.48%, while the 5-day performance has seen it change 21.02%. Over the past 30 days, the shares of Palatin Technologies Inc. (AMEX:PTN) have changed 12.70%. Short interest in the company has seen 1.45 million shares shorted with days to cover at 1.85.
Palatin Technologies Inc. (PTN) estimates and forecasts
Figures show that Palatin Technologies Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained 17.68% over the past 6 months, with this year growth rate of 6.72%, compared to 13.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 20.60% and 52.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be -11.60%.
3 analysts offering their estimates for the company have set an average revenue estimate of $80k for the current quarter. 3 have an estimated revenue figure of $90k for the next quarter concluding in Jun 2024.
PTN Dividends
Palatin Technologies Inc. is expected to release its next earnings report between May 14 and May 20 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Palatin Technologies Inc. (AMEX:PTN)’s Major holders
Insiders own 3.31% of the company shares, while shares held by institutions stand at 10.72% with a share float percentage of 11.09%. Investors are also buoyed by the number of investors in a company, with Palatin Technologies Inc. having a total of 46 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc with over 0.38 million shares worth more than $0.8 million. As of Jun 29, 2023, Vanguard Group Inc held 3.20% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 0.25 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $0.52 million and represent 2.07% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Core S&P Total U.S. Stock Market ETF. As of Jun 29, 2023, the former fund manager holds about 2.07% shares in the company for having 0.25 million shares of worth $0.52 million while later fund manager owns 0.13 million shares of worth $0.26 million as of Aug 30, 2023, which makes it owner of about 1.07% of company’s outstanding stock.
