Turning Point Therapeutics (NASDAQ:TPTX) Short Interest Update

Turning Point Therapeutics (NASDAQ:TPTX) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,280,000 shares, a growth of 17.5% from the August 30th total of 1,940,000 shares. Based on an average daily volume of 224,000 shares, the short-interest ratio is currently 10.2 days. Approximately 10.6% of the company’s stock are short sold.

In other Turning Point Therapeutics news, CFO Yi Larson bought 2,222 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were acquired at an average price of $45.00 per share, with a total value of $99,990.00. Also, CEO Athena Countouriotis bought 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were acquired at an average cost of $45.00 per share, for a total transaction of $450,000.00. Insiders have acquired a total of 189,999 shares of company stock worth $8,549,955 in the last three months.

Several institutional investors have recently modified their holdings of TPTX. Alpine Woods Capital Investors LLC purchased a new position in shares of Turning Point Therapeutics in the 2nd quarter worth approximately $204,000. Wells Fargo & Company MN acquired a new stake in Turning Point Therapeutics in the 2nd quarter worth approximately $72,000. JPMorgan Chase & Co. acquired a new stake in Turning Point Therapeutics in the 2nd quarter worth approximately $71,000. Allianz Asset Management GmbH acquired a new stake in Turning Point Therapeutics in the 2nd quarter worth approximately $531,000. Finally, Artal Group S.A. acquired a new stake in Turning Point Therapeutics in the 2nd quarter worth approximately $8,140,000. 58.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Turning Point Therapeutics stock traded down $1.08 on Monday, reaching $35.81. The stock had a trading volume of 722,285 shares, compared to its average volume of 227,960. The firm’s 50 day moving average price is $43.65. The company has a quick ratio of 32.35, a current ratio of 32.35 and a debt-to-equity ratio of 0.01. Turning Point Therapeutics has a 1 year low of $24.21 and a 1 year high of $58.56.

Turning Point Therapeutics (NASDAQ:TPTX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.05). As a group, equities research analysts forecast that Turning Point Therapeutics will post -2.93 EPS for the current fiscal year.

A number of research analysts have commented on the stock. Canaccord Genuity raised their target price on shares of Turning Point Therapeutics from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Guggenheim assumed coverage on shares of Turning Point Therapeutics in a research report on Wednesday, July 24th. They set a “buy” rating and a $58.00 target price on the stock. Wells Fargo & Co raised their target price on shares of Turning Point Therapeutics from $53.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Zacks Investment Research raised shares of Turning Point Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, HC Wainwright assumed coverage on shares of Turning Point Therapeutics in a research report on Wednesday, September 25th. They issued a “buy” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Turning Point Therapeutics currently has an average rating of “Buy” and an average price target of $54.56.

About Turning Point Therapeutics

Turning Point Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in designing and developing novel small molecule targeted oncology therapies. It develops a pipeline of tyrosine kinase inhibitors (TKIs) that targets genetic drivers of cancer in TKI-naïve and TKI-pretreated patients.

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