PolarityTE Inc. [PTE] is 15.59% higher this YTD. Is it still time to buy?



PolarityTE Inc. [NASDAQ: PTE] stock went on an upward path that rose over 15.59% on Monday, amounting to a one-week price increase of more than 66.99%. The company report on December 20, 2021 that PolarityTE Announces Submission of Complete Response to FDA’s Clinical Hold Correspondence for SkinTE® Investigational New Drug Application.

PolarityTE, Inc. (Nasdaq: PTE) a biotechnology company developing regenerative tissue products and biomaterials, today announced that it has submitted its complete response to the U.S. Food and Drug Administration’s (FDA) clinical hold correspondence regarding its Investigational New Drug (IND) Application for SkinTE® with a proposed indication for chronic cutaneous ulcers. As previously disclosed, the primary hold issues are certain Chemistry, Manufacturing, and Control (CMC) items, including the assay to demonstrate the potency of SkinTE.

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The Company’s complete response to the hold issues was submitted on December 17, 2021. Under FDA’s standard practices and regulations, if FDA agrees that the Company’s response is complete, a decision from FDA should be communicated to the Company within 30 days, subject to potential delays or other unforeseen circumstances.

Over the last 12 months, PTE stock dropped by -6.52%. The one-year PolarityTE Inc. stock forecast points to a potential upside of 69.78. The average equity rating for PTE stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $54.65 million, with 81.28 million shares outstanding and 68.36 million shares in the current float. Compared to the average trading volume of 706.86K shares, PTE stock reached a trading volume of 13568855 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on PolarityTE Inc. [PTE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PTE shares is $2.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PTE stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for PolarityTE Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on May 01, 2020. While these analysts kept the previous recommendation, Cantor Fitzgerald dropped their target price from $50 to $13. The new note on the price target was released on November 11, 2019, representing the official price target for PolarityTE Inc. stock. Previously, the target price had yet another raise to $8, while H.C. Wainwright analysts kept a Buy rating on PTE stock.

The Average True Range (ATR) for PolarityTE Inc. is set at 0.06, with the Price to Sales ratio for PTE stock in the period of the last 12 months amounting to 4.55. The Price to Book ratio for the last quarter was 2.06.

PTE Stock Performance Analysis:

PolarityTE Inc. [PTE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 66.99. With this latest performance, PTE shares gained by 61.55% in over the last four-week period, additionally sinking by -20.37% over the last 6 months – not to mention a drop of -6.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PTE stock in for the last two-week period is set at 74.54, with the RSI for the last a single of trading hit 82.97, and the three-weeks RSI is set at 67.72 for PolarityTE Inc. [PTE]. The present Moving Average for the last 50 days of trading for this stock 0.5067, while it was recorded at 0.5047 for the last single week of trading, and 0.7973 for the last 200 days.

Insight into PolarityTE Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and PolarityTE Inc. [PTE] shares currently have an operating margin of -415.82 and a Gross Margin at +25.95. PolarityTE Inc.’s Net Margin is presently recorded at -423.21.

Return on Total Capital for PTE is now -103.84, given the latest momentum, and Return on Invested Capital for the company is -115.48. Return on Equity for this stock declined to -129.36, with Return on Assets sitting at -86.48. When it comes to the capital structure of this company, PolarityTE Inc. [PTE] has a Total Debt to Total Equity ratio set at 28.55. Additionally, PTE Total Debt to Total Capital is recorded at 22.21, with Total Debt to Total Assets ending up at 17.15. Long-Term Debt to Equity for the company is recorded at 13.55, with the Long-Term Debt to Total Capital now at 10.54.

Reflecting on the efficiency of the workforce at the company, PolarityTE Inc. [PTE] managed to generate an average of -$535,675 per employee. Receivables Turnover for the company is 3.65 with a Total Asset Turnover recorded at a value of 0.20.PolarityTE Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.20 and a Current Ratio set at 5.20.


The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PTE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PolarityTE Inc. go to 15.00%.

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PolarityTE Inc. [PTE] Insider Position Details

There are presently around $6 million, or 16.70% of PTE stock, in the hands of institutional investors. The top three institutional holders of PTE stocks are: VANGUARD GROUP INC with ownership of 2,813,284, which is approximately 3.392% of the company’s market cap and around 4.70% of the total institutional ownership; POINT72 ASSET MANAGEMENT, L.P., holding 2,500,000 shares of the stock with an approximate value of $1.47 million in PTE stocks shares; and CASTLE HOOK PARTNERS LP, currently with $0.71 million in PTE stock with ownership of nearly 0% of the company’s market capitalization.

Positions in PolarityTE Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 16 institutional holders increased their position in PolarityTE Inc. [NASDAQ:PTE] by around 925,571 shares. Additionally, 20 investors decreased positions by around 1,283,429 shares, while 19 investors held positions by with 8,567,090 shares. The mentioned changes placed institutional holdings at 10,776,090 shares, according to the latest SEC report filing. PTE stock had 5 new institutional investments in for a total of 237,391 shares, while 8 institutional investors sold positions of 230,475 shares during the same period.