JPMorgan Chase & Co. increased its position in shares of Turning Point Therapeutics, Inc. (NASDAQ:TPTX) by 823.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,717 shares of the company’s stock after acquiring an additional 252,994 shares during the period. JPMorgan Chase & Co. owned about 0.58% of Turning Point Therapeutics worth $22,136,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Turning Point Therapeutics during the first quarter worth $56,000. HighMark Wealth Management LLC raised its holdings in shares of Turning Point Therapeutics by 1,732.6% during the second quarter. HighMark Wealth Management LLC now owns 788 shares of the company’s stock worth $61,000 after acquiring an additional 745 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Turning Point Therapeutics during the first quarter worth $64,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Turning Point Therapeutics during the first quarter worth $103,000. Finally, E Fund Management Co. Ltd. bought a new position in Turning Point Therapeutics during the first quarter valued at about $114,000. Institutional investors and hedge funds own 92.32% of the company’s stock.
Several equities analysts have weighed in on TPTX shares. SVB Leerink restated a “buy” rating on shares of Turning Point Therapeutics in a report on Sunday. HC Wainwright cut their target price on Turning Point Therapeutics from $178.00 to $162.00 and set a “buy” rating on the stock in a report on Tuesday. JMP Securities lowered Turning Point Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday. Zacks Investment Research lowered Turning Point Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Wells Fargo & Company cut their target price on Turning Point Therapeutics from $160.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, October 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $137.10.
Turning Point Therapeutics (NASDAQ:TPTX) last released its earnings results on Monday, August 9th. The company reported ($1.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.06. The firm had revenue of $5.16 million for the quarter. During the same quarter in the previous year, the business posted ($0.82) earnings per share. Research analysts predict that Turning Point Therapeutics, Inc. will post -4.51 EPS for the current fiscal year.
In related news, EVP Annette North sold 10,000 shares of Turning Point Therapeutics stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.30% of the stock is owned by company insiders.
About Turning Point Therapeutics
Turning Point Therapeutics, Inc is a clinical-stage oncology biopharmaceutical company, which engages in designing and developing next-generation therapies that target genetic drivers of cancer to improve the lives of patients. Its product pipeline include Repotrectinib, TPX-0022, TPX-0046, and TPS-O131, a next-gen ALK inhibitor.
Want to see what other hedge funds are holding TPTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Turning Point Therapeutics, Inc. (NASDAQ:TPTX).
Receive News & Ratings for Turning Point Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.