PTN Stock Summary and Trading Ideas (Palatin Techs | AMEX:PTN)

Palatin Technologies Inc is a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system. The product candidates are targeted, receptor-specific therapeutics for the treatment of diseases with significant unmet medical need and commercial potential.

Palatin Techs trades on the AMEX stock market under the symbol PTN.

As of November 15, 2024, PTN stock price declined to $0.93 with 251,417 million shares trading.

PTN has a beta of 1.35, meaning it tends to be more sensitive to market movements. PTN has a correlation of 0.02 to the broad based SPY ETF.

PTN has a market cap of $18.26 million. This is considered a Sub-Micro Cap stock.

In the last 3 years, PTN traded as high as $8.60 and as low as $.18.

The top ETF exchange traded funds that PTN belongs to (by Net Assets): VTI, VXF, IWC.

PTN has underperformed the market in the last year with a price return of -51.3% while the SPY ETF gained +32.1%. PTN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -34.2% and -24.7%, respectively, while the SPY returned +8.0% and +3.0%, respectively.

PTN support price is $.99 and resistance is $1.15 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PTN shares will trade within this expected range on the day.