State Board of Administration of Florida Retirement System increased its holdings in Turning Point Therapeutics (NASDAQ:TPTX) by 200.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,490 shares of the company’s stock after purchasing an additional 7,000 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Turning Point Therapeutics were worth $468,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Cutler Group LP boosted its holdings in Turning Point Therapeutics by 100.0% in the fourth quarter. Cutler Group LP now owns 600 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in Turning Point Therapeutics in the fourth quarter worth $77,000. Bank of America Corp DE boosted its holdings in Turning Point Therapeutics by 14.3% in the fourth quarter. Bank of America Corp DE now owns 10,312 shares of the company’s stock worth $642,000 after purchasing an additional 1,287 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Turning Point Therapeutics in the fourth quarter worth $96,000. Finally, Point72 Asset Management L.P. bought a new stake in Turning Point Therapeutics in the fourth quarter worth $131,000. Hedge funds and other institutional investors own 79.47% of the company’s stock.

In related news, Director Jingrong Jean Cui sold 7,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $59.65, for a total value of $417,550.00. Following the completion of the transaction, the director now owns 1,001,298 shares of the company’s stock, valued at $59,727,425.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 167,000 shares of company stock valued at $8,061,958 in the last three months.

NASDAQ TPTX opened at $58.80 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 34.91 and a current ratio of 34.91. The firm has a 50-day simple moving average of $51.65 and a 200 day simple moving average of $53.02. Turning Point Therapeutics has a twelve month low of $31.00 and a twelve month high of $67.54. The stock has a market cap of $2.13 billion and a PE ratio of -16.33.

Turning Point Therapeutics (NASDAQ:TPTX) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by ($1.03). Research analysts forecast that Turning Point Therapeutics will post -4.38 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on TPTX. Roth Capital upped their price objective on shares of Turning Point Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Wells Fargo & Co upped their price target on shares of Turning Point Therapeutics from $62.00 to $76.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. HC Wainwright upped their price target on shares of Turning Point Therapeutics from $70.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. BidaskClub upgraded shares of Turning Point Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research cut shares of Turning Point Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Turning Point Therapeutics currently has a consensus rating of “Buy” and an average price target of $64.50.

Turning Point Therapeutics Company Profile

Turning Point Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in designing and developing novel small molecule targeted oncology therapies. It develops a pipeline of tyrosine kinase inhibitors (TKIs) that targets genetic drivers of cancer in TKI-naïve and TKI-pretreated patients.

Read More: Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Turning Point Therapeutics (NASDAQ:TPTX)

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