POINT Biopharma Global (NASDAQ:PNT) Shares Gap Up to $9.14

POINT Biopharma Global Inc. (NASDAQ:PNTGet Rating) shares gapped up before the market opened on Monday . The stock had previously closed at $9.14, but opened at $9.59. POINT Biopharma Global shares last traded at $6.52, with a volume of 8,412 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PNT shares. Berenberg Bank initiated coverage on shares of POINT Biopharma Global in a research note on Wednesday, September 14th. They issued a “buy” rating and a $20.00 target price for the company. Jonestrading initiated coverage on POINT Biopharma Global in a research note on Tuesday, September 6th. They set a “buy” rating for the company. Oppenheimer started coverage on POINT Biopharma Global in a research note on Monday, October 10th. They issued an “outperform” rating and a $20.00 price target on the stock. Guggenheim increased their price target on POINT Biopharma Global from $20.00 to $22.00 in a report on Monday, September 12th. Finally, Piper Sandler dropped their price objective on POINT Biopharma Global from $17.00 to $14.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, POINT Biopharma Global has a consensus rating of “Moderate Buy” and a consensus target price of $24.56.

POINT Biopharma Global Price Performance

The business has a fifty day moving average of $8.34 and a 200-day moving average of $8.04.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PNT. Alliancebernstein L.P. lifted its holdings in POINT Biopharma Global by 240.9% in the third quarter. Alliancebernstein L.P. now owns 45,000 shares of the company’s stock worth $348,000 after purchasing an additional 31,800 shares during the period. State Street Corp boosted its holdings in shares of POINT Biopharma Global by 35.7% in the third quarter. State Street Corp now owns 3,009,168 shares of the company’s stock valued at $23,261,000 after acquiring an additional 791,372 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of POINT Biopharma Global by 10.3% during the third quarter. UBS Asset Management Americas Inc. now owns 36,738 shares of the company’s stock valued at $284,000 after acquiring an additional 3,438 shares during the period. Vanguard Group Inc. boosted its stake in POINT Biopharma Global by 12.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,875,322 shares of the company’s stock valued at $29,957,000 after purchasing an additional 426,617 shares in the last quarter. Finally, PFM Health Sciences LP acquired a new stake in shares of POINT Biopharma Global in the third quarter valued at $34,903,000. 53.83% of the stock is owned by institutional investors and hedge funds.

About POINT Biopharma Global

(Get Rating)

POINT Biopharma Global Inc, a radiopharmaceutical company, focuses on the development and commercialization of radioligands that fight cancer. Its lead product candidates include PNT2002, a prostate-specific membrane antigen (PSMA) targeted radioligand that is in Phase III trial for the treatment of metastatic castration-resistant prostate cancer; and PNT2003, a somatostatin-targeted radioligand, which is in Phase III trial for the treatment of neuroendocrine tumors.

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