Profund Advisors LLC purchased a new position in shares of POINT Biopharma Global Inc. (NASDAQ:PNT – Free Report) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 32,709 shares of the company’s stock, valued at approximately $238,000.
Several other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its stake in shares of POINT Biopharma Global by 73.2% during the 1st quarter. American Century Companies Inc. now owns 22,344 shares of the company’s stock worth $155,000 after acquiring an additional 9,446 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of POINT Biopharma Global by 12.2% during the 1st quarter. Rhumbline Advisers now owns 113,324 shares of the company’s stock worth $824,000 after acquiring an additional 12,344 shares in the last quarter. Citigroup Inc. boosted its stake in shares of POINT Biopharma Global by 4.6% during the 1st quarter. Citigroup Inc. now owns 137,279 shares of the company’s stock worth $998,000 after acquiring an additional 6,003 shares in the last quarter. Pier Capital LLC purchased a new stake in shares of POINT Biopharma Global during the 1st quarter worth approximately $6,272,000. Finally, Credit Suisse AG lifted its stake in POINT Biopharma Global by 11.7% in the 1st quarter. Credit Suisse AG now owns 59,701 shares of the company’s stock valued at $434,000 after buying an additional 6,261 shares in the last quarter. Hedge funds and other institutional investors own 59.53% of the company’s stock.
POINT Biopharma Global Price Performance
PNT stock opened at $7.76 on Friday. POINT Biopharma Global Inc. has a 52-week low of $5.59 and a 52-week high of $11.13. The stock’s fifty day simple moving average is $8.71 and its 200-day simple moving average is $8.48. The company has a quick ratio of 10.51, a current ratio of 10.51 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $820.78 million, a price-to-earnings ratio of 8.92 and a beta of 0.13.
Analysts Set New Price Targets
PNT has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $14.00 target price (up previously from $12.00) on shares of POINT Biopharma Global in a report on Thursday, July 20th. Raymond James set a $13.00 target price on POINT Biopharma Global and gave the company an “outperform” rating in a report on Monday, August 28th. Finally, Piper Sandler increased their target price on POINT Biopharma Global from $14.00 to $16.00 in a report on Wednesday, June 21st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, POINT Biopharma Global presently has an average rating of “Buy” and a consensus target price of $16.00.
About POINT Biopharma Global
POINT Biopharma Global Inc, a radiopharmaceutical company, develops and commercializes 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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