Pear Therapeutics (NASDAQ:PEAR) Stock Rating Lowered by BTIG Research

Posted by Defense World Staff on Mar 19th, 2023

Pear Therapeutics (NASDAQ:PEAR – Get Rating) was downgraded by stock analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.

Pear Therapeutics Trading Down 34.2 %

NASDAQ PEAR opened at $0.39 on Friday. The firm has a market capitalization of $54.63 million, a price-to-earnings ratio of -1.77 and a beta of 0.81. The firm’s 50 day simple moving average is $1.02 and its 200 day simple moving average is $1.64. Pear Therapeutics has a 1 year low of $0.30 and a 1 year high of $6.74.

Insider Buying and Selling at Pear Therapeutics

In other Pear Therapeutics news, CEO Corey Mccann sold 34,731 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $1.13, for a total value of $39,246.03. Following the sale, the chief executive officer now owns 8,210,834 shares in the company, valued at $9,278,242.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 74,460 shares of company stock worth $84,140 over the last quarter. Corporate insiders own 30.70% of the company’s stock.

Institutional Trading of Pear Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PEAR. BlackRock Inc. boosted its position in Pear Therapeutics by 603.2% in the third quarter. BlackRock Inc. now owns 3,014,890 shares of the company’s stock valued at $6,151,000 after buying an additional 2,586,124 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Pear Therapeutics by 203.0% during the third quarter. Vanguard Group Inc. now owns 3,226,467 shares of the company’s stock worth $6,581,000 after purchasing an additional 2,161,758 shares during the period. State Street Corp lifted its holdings in shares of Pear Therapeutics by 195.8% during the third quarter. State Street Corp now owns 923,012 shares of the company’s stock worth $1,883,000 after purchasing an additional 610,984 shares during the period. Millennium Management LLC lifted its holdings in shares of Pear Therapeutics by 574.1% during the second quarter. Millennium Management LLC now owns 248,399 shares of the company’s stock worth $383,000 after purchasing an additional 211,551 shares during the period. Finally, Darrow Company Inc. acquired a new position in shares of Pear Therapeutics during the third quarter worth $371,000. Institutional investors and hedge funds own 71.17% of the company’s stock.

Pear Therapeutics Company Profile

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Pear Therapeutics, Inc, a commercial-stage healthcare company, develops and sells software-based medicines. Its commercial products are reSET for the treatment of substance use disorder related to alcohol, cannabis, cocaine, and stimulants; reSET-O for the treatment of opioid use disorder in combination with buprenorphine; and Somryst, a software-based treatment for chronic insomnia.