Pain Therapeutics (PTIE) Trading 103.1% Higher
Shares of Pain Therapeutics, Inc. (NASDAQ:PTIE) traded up 103.1% on Wednesday . The stock traded as high as $12.80 and last traded at $9.04. 31,546,199 shares traded hands during mid-day trading, an increase of 493% from the average session volume of 5,320,283 shares. The stock had previously closed at $4.45.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Pain Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. ValuEngine cut shares of Pain Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st.
The stock has a market cap of $56.13, a price-to-earnings ratio of -4.63 and a beta of 2.11.
A hedge fund recently bought a new stake in Pain Therapeutics stock. Dimensional Fund Advisors LP bought a new stake in shares of Pain Therapeutics, Inc. (NASDAQ:PTIE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 59,989 shares of the biopharmaceutical company’s stock, valued at approximately $247,000. Dimensional Fund Advisors LP owned approximately 0.91% of Pain Therapeutics at the end of the most recent quarter. 35.99% of the stock is owned by hedge funds and other institutional investors.
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About Pain Therapeutics
Pain Therapeutics, Inc is a biopharmaceutical company. The Company is focused on drug development efforts on disorders of the nervous system, such as chronic pain. The Company’s lead drug candidate, REMOXY, is an abuse-deterrent, oral formulation of oxycodone (CII). The Company’s other products is FENROCK.
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