On Jan. 07, Baker Brian Lee divested U.S. $3,819,090 in shares of Turning Point Therapeutics Inc.. The SVP of Finance, Admin. sold 31,238 shares at a price per share of $122.26. The transaction decreased this specific insider’s holdings to 1,008 shares worth around $0.13 million at present.
JMP Securities launched its Turning Point Therapeutics Inc. [TPTX] rating to the equivalent of a Mkt outperform and assigned the price target of $125, in a research note dated December 08, 2020. That figure represents around a -4.86% premium from where the company’s shares closed on Friday. Some new analysts also started their coverage, with JMP Securities’s analysts assigning the shares to “a Mkt outperform” rating in a research note to investors issued in early December. Meanwhile, H.C. Wainwright had maintained its rating on TPTX to the earlier “Buy” rating, in a research note produced for clients September 21, 2020. In addition, there was a new coverage from Oppenheimer on July 10, 2020. The research firm rated TPTX “an Outperform”.
Is Turning Point Therapeutics Inc. [NASDAQ:TPTX] a Good Buy Right Now?
It should be noted that TPTX technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Turning Point Therapeutics Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.32 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.34 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.41 million shares.
TPTX Price Performance
On Wall Street, Turning Point Therapeutics Inc. [NASDAQ:TPTX] finished Friday’s session up 4.07% at $131.07. The stock went up to $131.68 at the same session while its lowest single day price was $125.97. In the last five days, it saw a rise of about 7.57%, Turning Point Therapeutics Inc. shares gained by almost 7.57% since the beginning of the year. However, the share price has dropped to as low as -2.85% below its one year high. On 01/08/21, the company shares recorded $131.68, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $114.38. The company’s shares have inclined by 100.57% in the past year. The 50-day SMA achieved is $113.24 while the 200-day SMA is $79.51. Volume gained to 0.36 million from 0.32 million in the previous session.
TPTX Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 127.47 level, and in case of violation of this particular level, it will cause more drop to 123.86 level. On the upper level, 135.28 is still the key resistance. The stock may increase to the subsequent resistance at 133.18. The Relative Strength Index (RSI) pinned on the 14-day chart is 61.82, implying a neutral technical stance while the MACD stands at 0.85, meaning price will decrease in the next trading period. Percent R indicator moved to 18.74%, implying bullish price movement. Stochastic %K at 59.35% suggest holding the stock.
What is the short interest in Turning Point Therapeutics Inc.?
Short interest in the Turning Point Therapeutics Inc. stock has surged, increasing by 0.46 million shares to total 2.45 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.91 million, data from Yahoo Finance shows. The decrease of -18.78% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 6.85% of the overall float for the stock.
Turning Point Therapeutics Inc.’s Biggest Shareholders: Who Owns Turning Point Therapeutics Inc. [TPTX]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 5,538,057 shares or roughly 11.50% of the outstanding TPTX shares. This means their shares have increased by 610,938 from the 5,538,057 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $295,678,293. Details in the latest 13F filings reveal that OrbiMed Advisors LLC disposed off their 0.00% stake valued at $292,377,326 while Cormorant Asset Management LP cut theirs at $260,104,631. During the last quarter, OrbiMed Advisors LLC liquidated 0 of its shares in Turning Point Therapeutics Inc. while Cormorant Asset Management LP sold -295,000 shares. The BlackRock Fund Advisors’s holdings currently number 2,417,272 shares at $316831841.04. According to the firm’s last 13F report, Wellington Management Co. LLP shares in the company at filing stood at 2,211,571 shares, roughly $235,532,312.
TPTX Earnings Forecast For The Current Quarter
Turning Point Therapeutics Inc. [TPTX] is expected to report weak earnings results for the quarter ending on Dec 2020. The estimates represent -98.00% and -10.10% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
TPTX Earnings Estimates For The Current Year
For the financial year, Turning Point Therapeutics Inc. [NASDAQ:TPTX] is expected to bring in revenue of $25M. In terms of EPS for the 2020, estimate put it at -3.77, lower than that of FY19 by -$0.78. Estimates put this year’s earnings growth at -26.10%, -10.10% for the next.
What are analyst thoughts on Turning Point Therapeutics Inc.?
Looking forward to the Turning Point Therapeutics Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Turning Point Therapeutics Inc. stock at $130.00 within the next 12 months, which represents almost -0.82 per cent growth from its previous closing price of $131.07. The highest analysts’ target for Turning Point Therapeutics Inc. stock projections is $145.00 and the lowest one is $122.00. Still, 10 analysts sharing their consensus rating for TPTX stock in 2021 agree that it is a Buy.