Amalgamated Bank cut its position in Turning Point Therapeutics, Inc. (NASDAQ:TPTX – Get Rating) by 7.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,765 shares of the company's stock after selling 432 shares during the period. Amalgamated Bank's holdings in Turning Point Therapeutics were worth $155,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Turning Point Therapeutics by 0.5% in the first quarter. Wellington Management Group LLP now owns 4,030,991 shares of the company's stock worth $108,231,000 after buying an additional 21,337 shares during the last quarter. Vanguard Group Inc. boosted its position in Turning Point Therapeutics by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,913,128 shares of the company's stock worth $105,067,000 after purchasing an additional 35,789 shares in the last quarter. State Street Corp boosted its position in Turning Point Therapeutics by 37.2% during the first quarter. State Street Corp now owns 3,119,926 shares of the company's stock worth $83,770,000 after purchasing an additional 845,408 shares in the last quarter. Federated Hermes Inc. boosted its position in Turning Point Therapeutics by 19.7% during the first quarter. Federated Hermes Inc. now owns 2,075,037 shares of the company's stock worth $55,715,000 after purchasing an additional 341,455 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Turning Point Therapeutics by 5.4% during the first quarter. Goldman Sachs Group Inc. now owns 844,461 shares of the company's stock worth $22,674,000 after purchasing an additional 43,252 shares in the last quarter. 90.33% of the stock is owned by institutional investors and hedge funds.
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Turning Point Therapeutics Stock Performance
NASDAQ:TPTX opened at $76.01 on Friday. Turning Point Therapeutics, Inc. has a one year low of $23.77 and a one year high of $82.20. The stock has a market cap of $3.81 billion, a PE ratio of -11.02 and a beta of -0.18. The stock has a 50 day moving average price of $75.81 and a 200 day moving average price of $59.18.
Turning Point Therapeutics (NASDAQ:TPTX – Get Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported ($2.48) EPS for the quarter, missing the consensus estimate of ($1.78) by ($0.70). The company had revenue of $0.12 million during the quarter, compared to analysts' expectations of $2.27 million. During the same period in the previous year, the company posted ($1.14) earnings per share. The business's revenue was down 97.7% on a year-over-year basis. As a group, analysts predict that Turning Point Therapeutics, Inc. will post -7.69 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
TPTX has been the topic of a number of recent analyst reports. Guggenheim set a $76.00 price target on Turning Point Therapeutics in a research report on Monday, June 20th. SVB Leerink downgraded Turning Point Therapeutics from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $101.00 to $76.00 in a research report on Monday, June 13th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $78.22.
Insider Activity at Turning Point Therapeutics
In related news, CFO Paolo Tombesi sold 1,183 shares of the stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $74.94, for a total value of $88,654.02. Following the completion of the sale, the chief financial officer now owns 28,700 shares of the company's stock, valued at $2,150,778. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.60% of the company's stock.
About Turning Point Therapeutics
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Turning Point Therapeutics, Inc, a clinical-stage precision oncology biopharmaceutical company, engages in designing and developing therapies that target genetic drivers of cancer. 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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