Allspring Global Investments Holdings LLC Takes $475,000 Position in POINT Biopharma Global Inc. (NASDAQ:PNT)

Allspring Global Investments Holdings LLC bought a new position in POINT Biopharma Global Inc. (NASDAQ:PNTGet Rating) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 61,523 shares of the company’s stock, valued at approximately $475,000.

A number of other large investors have also recently added to or reduced their stakes in PNT. Firethorn Wealth Partners LLC lifted its stake 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 buying an additional 3,480 shares during the last quarter. California State Teachers Retirement System lifted its position in POINT Biopharma Global by 13.2% during the 1st quarter. California State Teachers Retirement System now owns 34,586 shares of the company’s stock worth $276,000 after acquiring an additional 4,035 shares during the last quarter. Sigma Planning Corp boosted its holdings in POINT Biopharma Global by 32.4% during the second quarter. Sigma Planning Corp now owns 19,480 shares of the company’s stock valued at $133,000 after acquiring an additional 4,765 shares during the period. Swiss National Bank grew its position in shares of POINT Biopharma Global by 7.3% in the first quarter. Swiss National Bank now owns 85,166 shares of the company’s stock valued at $679,000 after purchasing an additional 5,800 shares during the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of POINT Biopharma Global in the second quarter valued at about $75,000. Institutional investors own 72.77% of the company’s stock.

POINT Biopharma Global Stock Performance

Shares of PNT stock opened at $7.07 on Tuesday. The firm has a fifty day moving average of $6.90 and a 200-day moving average of $7.89. The stock has a market cap of $735.46 million, a price-to-earnings ratio of -8.13 and a beta of 0.06. POINT Biopharma Global Inc. has a 52-week low of $5.22 and a 52-week high of $10.98.

POINT Biopharma Global (NASDAQ:PNTGet Rating) last posted its quarterly earnings results on Monday, November 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. On average, sell-side analysts predict that POINT Biopharma Global Inc. will post -0.48 earnings per share for the current year.

Insider Transactions at POINT Biopharma Global

In related news, Chairman Allan C. Silber purchased 27,603 shares of the stock in a transaction on Thursday, November 17th. The shares were purchased 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 directly owns 4,246,208 shares of the company’s stock, valued at approximately $25,477,248. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Allan C. Silber purchased 27,603 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was purchased at an average cost of $6.00 per share, with a total value of $165,618.00. Following the acquisition, the chairman now directly owns 4,246,208 shares of the company’s stock, valued at approximately $25,477,248. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan R. Goodman acquired 6,000 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were purchased at an average cost of $6.33 per share, for a total transaction of $37,980.00. Following the completion of the purchase, the director now directly owns 41,872 shares of the company’s stock, valued at approximately $265,049.76. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 37,473 shares of company stock valued at $229,158. Corporate insiders own 18.70% of the company’s stock.

Analyst Upgrades and Downgrades

PNT has been the subject of several recent analyst reports. Piper Sandler decreased their target price on POINT Biopharma Global from $17.00 to $14.00 in a research note on Monday, November 14th. SVB Leerink assumed coverage on shares of POINT Biopharma Global in a research note on Wednesday, November 30th. They issued an “outperform” rating and a $14.00 price objective on the stock. Truist Financial cut their target price on shares of POINT Biopharma Global from $22.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, November 15th. Raymond James initiated coverage on shares of POINT Biopharma Global in a research report on Wednesday, December 14th. They issued an “outperform” rating and a $10.00 price target on the stock. Finally, Oppenheimer cut their price objective on shares of POINT Biopharma Global to $15.00 in a research report on Thursday, November 17th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.13.

POINT Biopharma Global Profile

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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.

Further Reading

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Institutional Ownership by Quarter for POINT Biopharma Global (NASDAQ:PNT)

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