Paratek Pharmaceuticals, Inc. (PRTK) Position Increased by Birchview Capital LP
Birchview Capital LP raised its stake in shares of Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) by 170.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,150 shares of the specialty pharmaceutical company’s stock after buying an additional 19,000 shares during the period. Paratek Pharmaceuticals comprises about 0.4% of Birchview Capital LP’s investment portfolio, making the stock its 19th largest position. Birchview Capital LP owned about 0.11% of Paratek Pharmaceuticals worth $727,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of Paratek Pharmaceuticals by 13.3% in the second quarter. Legal & General Group Plc now owns 5,865 shares of the specialty pharmaceutical company’s stock valued at $144,000 after buying an additional 687 shares during the last quarter. Falcon Point Capital LLC acquired a new stake in shares of Paratek Pharmaceuticals during the first quarter valued at $200,000. Fox Run Management L.L.C. acquired a new stake in shares of Paratek Pharmaceuticals during the second quarter valued at $200,000. Russell Investments Group Ltd. acquired a new stake in shares of Paratek Pharmaceuticals during the first quarter valued at $211,000. Finally, American International Group Inc. increased its stake in shares of Paratek Pharmaceuticals by 34.1% in the first quarter. American International Group Inc. now owns 11,111 shares of the specialty pharmaceutical company’s stock valued at $214,000 after buying an additional 2,824 shares during the last quarter. 82.33% of the stock is currently owned by hedge funds and other institutional investors.
Paratek Pharmaceuticals, Inc. (NASDAQ PRTK) traded up 2.26% during mid-day trading on Thursday, hitting $27.20. The stock had a trading volume of 105,329 shares. The firm’s market cap is $755.10 million. Paratek Pharmaceuticals, Inc. has a 1-year low of $9.80 and a 1-year high of $27.25. The stock has a 50 day moving average of $21.57 and a 200-day moving average of $20.40.
Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its quarterly earnings data on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.25. The business had revenue of $7.51 million during the quarter, compared to the consensus estimate of $7.50 million.
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Several analysts have weighed in on the company. BidaskClub raised Paratek Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating and set a $36.00 target price on shares of Paratek Pharmaceuticals in a research note on Thursday, August 24th. Cantor Fitzgerald set a $33.00 target price on Paratek Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, May 4th. Zacks Investment Research raised Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Saturday, August 5th. Finally, HC Wainwright lifted their target price on Paratek Pharmaceuticals from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Paratek Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $37.44.
In related news, CFO Douglas W. Pagan sold 4,595 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $25.00, for a total value of $114,875.00. Following the transaction, the chief financial officer now owns 51,000 shares in the company, valued at $1,275,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Michael Bigham sold 5,075 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $23.58, for a total transaction of $119,668.50. Following the completion of the transaction, the chairman now owns 109,500 shares in the company, valued at approximately $2,582,010. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,960 shares of company stock worth $524,342. 4.90% of the stock is owned by company insiders.
About Paratek Pharmaceuticals
Paratek Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics based upon tetracycline chemistry. Its product candidates are the antibacterials omadacycline and sarecycline. Omadacycline is an antibiotic being developed for use as an empiric monotherapy option for patients suffering from serious, community-acquired bacterial infections.
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