POINT Biopharma Global Inc. (NASDAQ:PNT – Get Free Report) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 2,640,000 shares, a drop of 28.1% from the November 15th total of 3,670,000 shares. Based on an average trading volume of 2,740,000 shares, the short-interest ratio is currently 1.0 days. Approximately 3.0% of the company’s stock are short sold.
Institutional Trading of POINT Biopharma Global
Several large investors have recently modified their holdings of PNT. Amundi purchased a new stake in POINT Biopharma Global in the 4th quarter valued at approximately $42,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of POINT Biopharma Global in the third quarter valued at $61,000. Tower Research Capital LLC TRC boosted its stake in shares of POINT Biopharma Global by 125.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,943 shares of the company’s stock valued at $63,000 after acquiring an additional 3,862 shares during the last quarter. Beutel Goodman & Co Ltd. purchased a new stake in POINT Biopharma Global during the 2nd quarter worth about $64,000. Finally, Principal Financial Group Inc. acquired a new position in POINT Biopharma Global in the 2nd quarter valued at about $75,000. 59.53% of the stock is currently owned by institutional investors and hedge funds.
POINT Biopharma Global Price Performance
Shares of NASDAQ:PNT traded down $0.52 during trading on Thursday, hitting $13.71. 2,156,149 shares of the stock were exchanged, compared to its average volume of 1,219,869. The company has a market cap of $1.46 billion and a PE ratio of 15.23. The company has a current ratio of 9.14, a quick ratio of 9.14 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $13.18 and a two-hundred day moving average price of $10.28. POINT Biopharma Global has a 12-month low of $6.39 and a 12-month high of $14.35.
POINT Biopharma Global (NASDAQ:PNT – Get Free Report) last issued its quarterly earnings data on Monday, November 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.07. The firm had revenue of $2.79 million during the quarter, compared to analysts’ expectations of $8.00 million. POINT Biopharma Global had a return on equity of 21.10% and a net margin of 39.62%. On average, analysts forecast that POINT Biopharma Global will post -0.71 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. SVB Leerink downgraded shares of POINT Biopharma Global from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. Jonestrading reaffirmed a “hold” rating on shares of POINT Biopharma Global in a report on Wednesday, October 4th. Guggenheim cut shares of POINT Biopharma Global from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 4th. Piper Sandler restated a “neutral” rating and issued a $12.50 price objective on shares of POINT Biopharma Global in a research note on Tuesday, October 24th. Finally, Raymond James cut shares of POINT Biopharma Global from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $13.00 to $12.50 in a report on Thursday, October 5th. Nine research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, POINT Biopharma Global currently has an average rating of “Hold” and a consensus target price of $12.88.
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.