Jupiter Topco LLC Invests $42.36 Million in Aktis Oncology $AKTS

Key Points

• Jupiter Topco LLC acquired 1.31 million Aktis Oncology shares worth approximately $42.36 million, giving it a 2.46% stake. Institutional investors collectively owned 28.84% of the company at the end of the reporting period.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $35.00. Recent targets range from $33 to $40, although one analyst downgraded the stock to “sell.”
• Aktis Oncology reported a quarterly loss of $0.44 per share, slightly worse than estimates, while revenue of $3.38 million exceeded expectations. The stock opened at $26.18, with a market capitalization of about $1.41 billion.

Jupiter Topco LLC purchased a new stake in shares of Aktis Oncology (NASDAQ:AKTS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,314,267 shares of the technology company's stock, valued at approximately $42,359,000. Jupiter Topco LLC owned 2.46% of Aktis Oncology at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State of Wyoming acquired a new position in Aktis Oncology in the 2nd quarter worth approximately $32,000. Bank of New York Mellon Corp raised its stake in Aktis Oncology by 14.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,250 shares of the technology company's stock valued at $1,587,000 after purchasing an additional 6,349 shares during the period. Deutsche Bank AG raised its stake in Aktis Oncology by 49.3% during the 2nd quarter. Deutsche Bank AG now owns 21,022 shares of the technology company's stock valued at $678,000 after purchasing an additional 6,942 shares during the period. BlackRock Inc. lifted its holdings in shares of Aktis Oncology by 7.9% in the second quarter. BlackRock Inc. now owns 2,278,358 shares of the technology company's stock valued at $73,431,000 after purchasing an additional 166,231 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Aktis Oncology in the second quarter valued at $1,406,000. Hedge funds and other institutional investors own 28.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AKTS shares. HC Wainwright lifted their price target on Aktis Oncology from $33.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. BMO Capital Markets initiated coverage on Aktis Oncology in a research note on Tuesday, August 18th. They issued an "outperform" rating and a $37.00 price objective for the company. Raymond James Financial started coverage on Aktis Oncology in a research report on Monday, June 15th. They set a "strong-buy" rating and a $40.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Aktis Oncology from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen lowered shares of Aktis Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Aktis Oncology currently has an average rating of "Moderate Buy" and an average price target of $35.00.

Insider Buying and Selling

In related news, Director Ken Herrmann sold 4,856 shares of Aktis Oncology stock in a transaction on Monday, July 20th. The shares were sold at an average price of $24.56, for a total value of $119,263.36. Following the transaction, the director owned 3,506 shares in the company, valued at $86,107.36. This trade represents a 58.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.30% of the stock is owned by company insiders.

Aktis Oncology Stock Performance

AKTS opened at $26.18 on Friday. The firm has a market cap of $1.41 billion and a P/E ratio of -31.93. The business has a 50 day moving average price of $25.78 and a 200 day moving average price of $21.47. Aktis Oncology has a twelve month low of $14.72 and a twelve month high of $34.19.

Aktis Oncology (NASDAQ:AKTS - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The technology company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.01). The firm had revenue of $3.38 million for the quarter, compared to the consensus estimate of $2.70 million. As a group, analysts anticipate that Aktis Oncology will post -1.8 earnings per share for the current fiscal year.

About Aktis Oncology

Aktis Oncology NASDAQ: AKTS is a biotechnology company focused on the discovery and development of new therapies for cancer. The firm concentrates on advancing oncology candidates through research and development with the goal of addressing unmet medical needs in oncology. Its work emphasizes targeted and precision approaches intended to improve the safety and efficacy profiles of cancer treatments.

The company's activities include laboratory research, preclinical studies and clinical development as it advances its pipeline programs toward regulatory milestones.

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