Pain Therapeutics (PTIE) Sees Strong Trading Volume

Pain Therapeutics, Inc. (NASDAQ:PTIE) saw strong trading volume on Monday . 851,574 shares were traded during mid-day trading, an increase of 187% from the previous session’s volume of 296,978 shares.The stock last traded at $1.28 and had previously closed at $1.26.

Separately, ValuEngine downgraded shares of Pain Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Pain Therapeutics by 11.4% in the fourth quarter. BlackRock Inc. now owns 226,066 shares of the biopharmaceutical company’s stock valued at $193,000 after purchasing an additional 23,204 shares in the last quarter. Geode Capital Management LLC raised its stake in Pain Therapeutics by 75.0% in the fourth quarter. Geode Capital Management LLC now owns 66,068 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 28,314 shares in the last quarter. Vanguard Group Inc raised its stake in Pain Therapeutics by 20.7% in the third quarter. Vanguard Group Inc now owns 218,850 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 37,466 shares in the last quarter. Renaissance Technologies LLC raised its stake in Pain Therapeutics by 833.7% in the third quarter. Renaissance Technologies LLC now owns 261,083 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 233,121 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its stake in Pain Therapeutics by 83.8% in the third quarter. First Eagle Investment Management LLC now owns 1,720,410 shares of the biopharmaceutical company’s stock valued at $1,738,000 after purchasing an additional 784,314 shares in the last quarter. 17.40% of the stock is currently owned by institutional investors and hedge funds.

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About Pain Therapeutics (NASDAQ:PTIE)

Pain Therapeutics, Inc develops drugs for nervous system disorders in the United States. The company's lead drug candidate is REMOXY, a proprietary abuse-deterrent oral formulation of oxycodone to treat severe chronic pain. It is also developing FENROCK, a proprietary abuse-deterrent transdermal pain patch for pain relief; PTI-125, a small molecule drug candidate to treat Alzheimer's disease; and PTI-125DX, a blood-based diagnostic/biomarker to detect Alzheimer's disease.

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