PNT shares expected to outperform in the next 12 months


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. POINT Biopharma Global Inc. shares valued at $14,342 were purchased by MCCANN JOE A. on Nov 29. At $6.64 per share, MCCANN JOE A. acquired 2,160 shares. The insider’s holdings grew to 3,616,313 shares worth approximately $33.96 million following the completion of this transaction.

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Also, Malik Rajesh purchased 3,700 shares, netting a total of over 24,642 in proceeds. Following the buying of shares at $6.66 each, the insider now holds 3,700 shares.

Before that, HOGUE GERALD L. had added 3,660 shares to its account. In a trade valued at $24,943, the Director bought POINT Biopharma Global Inc. shares for $6.82 each. Upon closing the transaction, the insider’s holdings increased to 3,660 shares, worth approximately $34367.4.

Analyzing PNT Stock Performance

On Thursday, POINT Biopharma Global Inc. [NASDAQ: PNT] plunged -3.89% to $9.39. The stock’s lowest price that day was $9.31, but it reached a high of $9.77 in the same session. During the last five days, there has been a drop of approximately -10.14%. Over the course of the year, POINT Biopharma Global Inc. shares have jumped approximately 28.81%. Shares of the company reached a 52-week high of $11.13 on 05/15/23 and a 52-week low of $6.58 on 03/24/23. A 50-day SMA is recorded $8.06, while a 200-day SMA reached $7.88. Nevertheless, trading volume fell to 0.66 million shares from 0.61 million shares the previous day.

Support And Resistance Levels for POINT Biopharma Global Inc. (PNT)

According to the 24-hour chart, there is a support level at 9.21, which, if violated, would cause prices to drop to 9.03. In the upper region, resistance lies at 9.67. The next price resistance is at 9.95. RSI (Relative Strength Index) is 55.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.02, which suggests the price will decrease in the coming days. Percent R is at 49.86%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is POINT Biopharma Global Inc. subject to short interest?

Stocks of POINT Biopharma Global Inc. saw a sharp steep in short interest on Apr 27, 2023 dropping by -0.61 million shares to 8.59 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 9.2 million shares. A decline of -7.1% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 13.24 of the overall float, the days-to-cover ratio (short ratio) decline to 13.24.

Which companies own the most shares of POINT Biopharma Global Inc. (PNT)?

According to BVF Partners LP filings, the company currently owns 10,563,748 shares, which is about 10.00% of the total PNT shares outstanding. The investor’s shares have appreciated by 1,386,000 from its previous 13-F filing of 9177748.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $38,432,459. The Vanguard Group, Inc. acquire a 0.77% interest valued at $32.67 million while Great Point Partners LLC purchased a 841,250 stake. A total of -1,429,012 shares of POINT Biopharma Global Inc. were bought by PFM Health Sciences LP during the quarter, and -59,324 were sold by Citadel Advisors LLC. In its current portfolio, SSgA Funds Management, Inc. holds 3,121,395 shares valued at $24.16 million.

In terms of POINT Biopharma Global Inc. share price expectations, FactSet research, analysts set an average price target of $16.40 in the next 12 months, up nearly 43.3% from the previous closing price of $9.77. Analysts anticipate POINT Biopharma Global Inc. stock to reach $28.00 by 2023, with the lowest price target being $11.00. In spite of this, 12 analysts ranked POINT Biopharma Global Inc. stock as a Buy at the end of 2023.


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