PolarityTE Inc. [NASDAQ: PTE] gained 10.36% on the last trading session, reaching $0.82 price per share at the time. The company report on November 9, 2022 that PolarityTE Confirms Receipt of Unsolicited, Non-Binding Offer to Acquire the Company.
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PolarityTE, Inc. (Nasdaq: PTE), a biotechnology company developing regenerative tissue products and biomaterials, today confirmed that on November 1, 2022, it received an unsolicited, non-binding offer (followed by an amended offer on November 8, 2022) from Michael Brauser to acquire all of the outstanding common stock of the Company not owned by him for $1.25 per share in cash. The offer is subject to various contingencies, including, among others, (1) settlement with warrant holders and satisfactory negotiations with insiders with change of control agreements, (2) minimum tender conditions, (3) a sixty-day due diligence period, and (4) satisfaction of other conditions and requirements that may arise, which are commonplace in transactions of this nature.
The Board of Directors of the Company and a special committee formed by the Board of Directors will carefully review the terms and conditions of the offer to determine the course of action that it believes is in the best interest of the Company and all Company securityholders. If the Board of Directors determines to proceed with the offer, there can be no assurance that all required contingencies will be satisfied and that a transaction will result.
PolarityTE Inc. represents 4.94 million in outstanding shares, while the company has a total market value of $4.67 million with the latest information. PTE stock price has been found in the range of $0.74 to $0.9477.
If compared to the average trading volume of 252.93K shares, PTE reached a trading volume of 5234758 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $2.00 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 2.00. 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 0.08, with the Price to Sales ratio for PTE stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 0.21, with the Price to Cash per share for the same quarter was set at 3.69.
Trading performance analysis for PTE stock
PolarityTE Inc. [PTE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.02. With this latest performance, PTE shares gained by 14.02% in over the last four-week period, additionally sinking by -74.26% over the last 6 months – not to mention a drop of -95.08% 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 55.59, with the RSI for the last a single of trading hit 61.70, and the three-weeks RSI is set at 50.32 for PolarityTE Inc. [PTE]. The present Moving Average for the last 50 days of trading for this stock 0.8046, while it was recorded at 0.7786 for the last single week of trading, and 3.9222 for the last 200 days.
PolarityTE Inc. [PTE]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and PolarityTE Inc. [PTE] shares currently have an operating margin of -344.30 and a Gross Margin at +25.90. PolarityTE Inc.’s Net Margin is presently recorded at -321.00.
Return on Equity for this stock declined to -129.61, with Return on Assets sitting at -78.73.
PolarityTE Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 6.50.
PolarityTE Inc. [PTE]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at PolarityTE Inc. [PTE]
There are presently around $0 million, or 11.00% of PTE stock, in the hands of institutional investors. The top three institutional holders of PTE stocks are: ARMISTICE CAPITAL, LLC with ownership of 140,163, which is approximately -58.59% of the company’s market cap and around 6.50% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 43,322 shares of the stock with an approximate value of $36000.0 in PTE stocks shares; and CAPITAL WEALTH ALLIANCE, LLC, currently with $33000.0 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 November and at the time of the November reporting period, where 16 institutional holders increased their position in PolarityTE Inc. [NASDAQ:PTE] by around 142,169 shares. Additionally, 16 investors decreased positions by around 337,640 shares, while 9 investors held positions by with 2,375 shares. The mentioned changes placed institutional holdings at 482,184 shares, according to the latest SEC report filing. PTE stock had 5 new institutional investments in for a total of 53,653 shares, while 13 institutional investors sold positions of 60,184 shares during the same period.