POINT Biopharma Global (NASDAQ:PNT) Shares Gap Up After Insider Buying Activity

POINT Biopharma Global Inc. (NASDAQ:PNTGet Rating) shares gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $6.52, but opened at $6.98. POINT Biopharma Global shares last traded at $6.73, with a volume of 2,584 shares traded.

Specifically, Chairman Allan C. Silber acquired 27,603 shares of the stock in a transaction dated Thursday, November 17th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $165,618.00. Following the completion of the transaction, the chairman now owns 4,246,208 shares in the company, valued at approximately $25,477,248. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jonathan R. Goodman purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were acquired at an average price of $6.33 per share, with a total value of $37,980.00. Following the purchase, the director now directly owns 41,872 shares in the company, valued at $265,049.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Allan C. Silber purchased 27,603 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $165,618.00. Following the purchase, the chairman now owns 4,246,208 shares in the company, valued at $25,477,248. The disclosure for this purchase can be found here. 18.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Berenberg Bank assumed coverage on POINT Biopharma Global in a report on Wednesday, September 14th. They issued a “buy” rating and a $20.00 price objective for the company. Guggenheim increased their price target on POINT Biopharma Global from $20.00 to $22.00 in a report on Monday, September 12th. Truist Financial decreased their price objective on POINT Biopharma Global from $22.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, November 15th. Jonestrading began coverage on POINT Biopharma Global in a research report on Tuesday, September 6th. They set a “buy” rating for the company. Finally, Oppenheimer reduced their price target on POINT Biopharma Global to $15.00 in a research report on Thursday, November 17th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat, POINT Biopharma Global currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

POINT Biopharma Global Trading Up 5.8 %

The firm has a market capitalization of $717.77 million, a P/E ratio of -7.71 and a beta of 0.28. The business has a 50-day moving average of $8.10 and a 200 day moving average of $7.96.

Hedge Funds Weigh In On POINT Biopharma Global

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Asset Management Americas Inc. lifted its position 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 worth $284,000 after acquiring an additional 3,438 shares in the last quarter. Firethorn Wealth Partners LLC increased its holdings in shares of POINT Biopharma Global by 10.3% in the second quarter. Firethorn Wealth Partners LLC now owns 37,230 shares of the company’s stock worth $271,000 after purchasing an additional 3,480 shares during the period. Psagot Value Holdings Ltd. Israel bought a new position in shares of POINT Biopharma Global in the third quarter worth $31,000. California State Teachers Retirement System increased its holdings in shares of POINT Biopharma Global by 13.2% in the first quarter. California State Teachers Retirement System now owns 34,586 shares of the company’s stock worth $276,000 after purchasing an additional 4,035 shares during the period. Finally, Credit Suisse AG increased its holdings in shares of POINT Biopharma Global by 18.0% in the third quarter. Credit Suisse AG now owns 28,467 shares of the company’s stock worth $220,000 after purchasing an additional 4,338 shares during the period. Hedge funds and other institutional investors own 53.83% of the company’s stock.

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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