Chicago Capital Management LLC acquired a new stake in shares of Turning Point Therapeutics, Inc. (NASDAQ:TPTX – Get Rating) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 135,112 shares of the company's stock, valued at approximately $10,167,000. Turning Point Therapeutics makes up 5.8% of Chicago Capital Management LLC's holdings, making the stock its 9th biggest holding.
Several other institutional investors also recently made changes to their positions in TPTX. Teacher Retirement System of Texas boosted its position in Turning Point Therapeutics by 5.7% in the 1st quarter. Teacher Retirement System of Texas now owns 8,498 shares of the company's stock valued at $228,000 after buying an additional 461 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Turning Point Therapeutics by 2.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 17,350 shares of the company's stock valued at $468,000 after purchasing an additional 480 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Turning Point Therapeutics by 4.3% in the 1st quarter. Guggenheim Capital LLC now owns 12,307 shares of the company's stock valued at $330,000 after purchasing an additional 504 shares in the last quarter. US Bancorp DE raised its stake in shares of Turning Point Therapeutics by 139.6% in the 1st quarter. US Bancorp DE now owns 1,143 shares of the company's stock valued at $31,000 after purchasing an additional 666 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Turning Point Therapeutics by 176.5% in the 1st quarter. Captrust Financial Advisors now owns 1,045 shares of the company's stock valued at $28,000 after purchasing an additional 667 shares in the last quarter. 90.33% of the stock is owned by hedge funds and other institutional investors.
Get Turning Point Therapeutics alerts:Turning Point Therapeutics Stock Performance
Shares of NASDAQ:TPTX traded up $0.52 during trading hours on Monday, hitting $76.01. The stock had a trading volume of 2,843,300 shares, compared to its average volume of 1,137,726. The stock's fifty day simple moving average is $75.81 and its 200 day simple moving average is $59.39. Turning Point Therapeutics, Inc. has a 1-year low of $23.77 and a 1-year high of $82.20. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -11.02 and a beta of -0.18.
Turning Point Therapeutics (NASDAQ:TPTX – Get Rating) last posted its quarterly earnings data on Monday, August 8th. The company reported ($2.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.78) by ($0.70). The firm had revenue of $0.12 million for the quarter, compared to analyst estimates of $2.27 million. Turning Point Therapeutics's quarterly revenue was down 97.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.14) EPS. As a group, research analysts anticipate that Turning Point Therapeutics, Inc. will post -7.69 EPS for the current year.Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Guggenheim set a $76.00 price objective on shares of Turning Point Therapeutics in a research note on Monday, June 20th. SVB Leerink lowered shares of Turning Point Therapeutics from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $101.00 to $76.00 in a research note on Monday, June 13th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $78.22.
Insider Activity
In other news, CFO Paolo Tombesi sold 1,183 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $74.94, for a total value of $88,654.02. Following the completion of the transaction, the chief financial officer now directly owns 28,700 shares in the company, valued at $2,150,778. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.60% of the company's stock.
Turning Point Therapeutics Profile
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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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