Plus Therapeutics (NASDAQ:PSTV) Stock Price Down 9.9% – Here’s Why

Shares of Plus Therapeutics, Inc. (NASDAQ:PSTV) were down 9.9% during trading on Thursday . The stock traded as low as $3.36 and last traded at $3.5110. Approximately 121,978 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 395,255 shares. The stock had previously closed at $3.8950.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSTV. D. Boral Capital reissued a “hold” rating on shares of Plus Therapeutics in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $1.00 price target (down from $2.00) on shares of Plus Therapeutics in a report on Friday, January 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Plus Therapeutics in a research note on Thursday, January 22nd. Finally, Lake Street Capital assumed coverage on Plus Therapeutics in a report on Tuesday, February 3rd. They set a “buy” rating and a $2.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Plus Therapeutics has an average rating of “Hold” and a consensus target price of $5.60.

Plus Therapeutics Stock Performance

The firm has a market capitalization of $596.14 million, a P/E ratio of -2.80 and a beta of 0.79. The stock has a 50 day moving average of $0.26 and a 200-day moving average of $0.46.

Institutional Trading of Plus Therapeutics

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new position in Plus Therapeutics in the 4th quarter worth approximately $254,000. XTX Topco Ltd purchased a new stake in shares of Plus Therapeutics during the fourth quarter worth $127,000. State Street Corp lifted its position in shares of Plus Therapeutics by 37.1% during the fourth quarter. State Street Corp now owns 468,893 shares of the company’s stock worth $240,000 after acquiring an additional 127,000 shares in the last quarter. L1 Global Manager Pty Ltd bought a new position in shares of Plus Therapeutics in the fourth quarter worth $1,167,000. Finally, Jane Street Group LLC bought a new position in shares of Plus Therapeutics in the fourth quarter worth $525,000. 3.28% of the stock is currently owned by hedge funds and other institutional investors.

Plus Therapeutics Company Profile

Plus Therapeutics is a clinical‐stage biopharmaceutical company specializing in the development of targeted radiotherapeutics for oncology. Its platform technologies leverage nanoliposomes and microspheres to deliver therapeutic radioisotopes directly to tumor sites. The company’s lead candidate, 90Y-HP-DO3A, is in Phase 2 development for recurrent high-grade gliomas, while its rhenium-based nanoliposome program is under investigation for diffuse intrinsic pontine glioma and brain metastases.

The pipeline also includes investigational treatments for bone metastases, malignant pleural effusions and other hard-to-treat solid tumors.