Mackay Shields LLC Takes $956,000 Position in Turning Point Therapeutics (NASDAQ:TPTX)
by Danessa LincolnMackay Shields LLC purchased a new stake in Turning Point Therapeutics (NASDAQ:TPTX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,400 shares of the company’s stock, valued at approximately $956,000.
Other large investors have also recently added to or reduced their stakes in the company. Cutler Group LP raised its position in shares of Turning Point Therapeutics by 100.0% in the fourth quarter. Cutler Group LP now owns 600 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares during the period. Great West Life Assurance Co. Can bought a new position in shares of Turning Point Therapeutics in the fourth quarter valued at approximately $77,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Turning Point Therapeutics in the fourth quarter valued at approximately $96,000. Point72 Asset Management L.P. bought a new position in shares of Turning Point Therapeutics in the fourth quarter valued at approximately $131,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Turning Point Therapeutics in the fourth quarter valued at approximately $139,000. 81.58% of the stock is currently owned by institutional investors.
In other news, CEO Athena Countouriotis bought 4,166 shares of Turning Point Therapeutics stock in a transaction dated Thursday, May 21st. The shares were bought at an average price of $60.00 per share, for a total transaction of $249,960.00. Following the purchase, the chief executive officer now owns 26,872 shares of the company’s stock, valued at $1,612,320. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jingrong Jean Cui sold 7,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $36.08, for a total transaction of $252,560.00. The disclosure for this sale can be found here. Insiders have sold 153,000 shares of company stock worth $7,326,048 in the last quarter. Corporate insiders own 23.20% of the company’s stock.
TPTX opened at $63.81 on Wednesday. Turning Point Therapeutics has a fifty-two week low of $31.00 and a fifty-two week high of $67.54. The company has a debt-to-equity ratio of 0.01, a current ratio of 34.91 and a quick ratio of 34.91. The firm’s fifty day moving average price is $53.06 and its two-hundred day moving average price is $53.40. The company has a market capitalization of $2.11 billion and a P/E ratio of -17.72.
Turning Point Therapeutics (NASDAQ:TPTX) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($1.69) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($1.03). On average, equities research analysts expect that Turning Point Therapeutics will post -4.38 EPS for the current fiscal year.
A number of equities analysts have recently commented on TPTX shares. Zacks Investment Research lowered shares of Turning Point Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. HC Wainwright boosted their target price on shares of Turning Point Therapeutics from $72.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday. BidaskClub raised shares of Turning Point Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, May 19th. Roth Capital boosted their target price on shares of Turning Point Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Wells Fargo & Co boosted their target price on shares of Turning Point Therapeutics from $62.00 to $76.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $66.50.
Turning Point Therapeutics Profile
Turning Point Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in designing and developing novel small molecule targeted oncology therapies. It develops a pipeline of tyrosine kinase inhibitors (TKIs) that targets genetic drivers of cancer in TKI-naïve and TKI-pretreated patients.
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