Why Are Palatin Technologies (PTN) Shares Spiking After-Hours?
Palatin Technologies Inc. (NYSEAMERICAN: PTN) shares surged 8.41%, reaching $27.77 in after-hours trading on Wednesday.
Check out the current price of PTN stock here.
According to Benzinga Pro data, the stock closed on Wednesday at $25.62, down 6.84%.
Janus Henderson Files 13G Disclosure
Janus Henderson Group plc filed a Schedule 13G, a report for passive investors holding more than 5% of a company’s stock, with the Securities and Exchange Commission.
Dated Nov. 28 and signed on Monday, the filing shows the firm owns 170,097 shares representing 9.99% of Palatin’s common stock.
The total includes pre-funded and common warrants exercisable within 60 days, subject to a 9.99% beneficial ownership limitation.
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Of the total holdings, Janus Henderson Biotech Innovation Master Fund Ltd, a subsidiary of Janus Henderson Group, holds 118,196 shares representing 6.6% of the class.
According to the SEC filing, both entities report shared voting and dispositive power over their holdings, with no sole voting or dispositive authority.
Additional Warrants Excluded
The filing also states that an additional 8,562 pre-funded warrants, 182,000 Series J common warrants, and 182,000 Series K common warrants are excluded from the reported figures due to the ownership cap.
Kristin Mariani, Head of North America Compliance and Chief Compliance Officer of the New Jersey-based biopharmaceutical company, signed the filing.
Trading Metrics
Palatin Technologies' stock has seen a dramatic turnaround, rebounding 388% over the past six months despite a 60.58% decline year to date.
The company has a market capitalization of $45.77 million and a 52-week trading range of $7.25 to $72.50.
According to Benzinga's Edge Stock Rankings, PTN stock has a positive trend across every time frame. Here is how the stock fares on other parameters.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.