Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Palatin Technologies Inc. shares valued at $12,703 were purchased by DEVEER ROBERT K JR on Apr 11 ’24. At $2.12 per share, DEVEER ROBERT K JR acquired 6,000 shares. The insider’s holdings grew to 40,845 shares worth approximately $72704.1 following the completion of this transaction.
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Also, DEVEER ROBERT K JR sold 11,700 shares, netting a total of over 23,434 in proceeds. Following the sale of shares at $2.00 each, the insider now holds 34,845 shares.
Before that, WILLS STEPHEN T had sold 4,998 shares from its account. In a trade valued at $12,563, the Executive VP and CFO/COO traded Palatin Technologies Inc. shares for $2.51 each. Upon closing the transaction, the insider’s holdings decreased to 4,998 shares, worth approximately $0.58 million.
As published in a research note from Canaccord Genuity on June 05, 2015, Palatin Technologies Inc. [PTN] has been retained to a Buy and the price target has been revised to $6. Analysts at ROTH Capital resumed the stock at ‘”a Buy”‘ outlook in a report released in mid January. As of May 23, 2012, Noble Financial has initiated its “Buy” rating for PTN. Earlier on January 23, 2007, Next Generation initiated its rating. Their recommendation was “a Buy” for PTN stock.
Analyzing PTN Stock Performance
During the last five days, there has been a drop of approximately -2.20%. Over the course of the year, Palatin Technologies Inc. shares have dropped approximately -55.28%. Shares of the company reached a 52-week high of $5.6500 on 01/29/24 and a 52-week low of $1.4600 on 03/20/24. A 50-day SMA is recorded $1.9490, while a 200-day SMA reached $2.3060. Nevertheless, trading volume fell to 94079.0 shares from 0.11 million shares the previous day.
Support And Resistance Levels for Palatin Technologies Inc. (PTN)
According to the 24-hour chart, there is a support level at 1.6933, which, if violated, would cause prices to drop to 1.6267. In the upper region, resistance lies at 1.8933. The next price resistance is at 2.0267. RSI (Relative Strength Index) is 43.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0397, which suggests the price will decrease in the coming days. Percent R is at 94.36%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
