Perspective Therapeutics, Inc. $CATX Shares Bought by Avidity Partners Management LP

Key Points

• Avidity Partners Management LP increased its Perspective Therapeutics stake by 88.4% in the first quarter, purchasing 2.84 million additional shares to own approximately 5.3% of CATX, valued at $25.2 million.
• Institutional ownership rose to 54.66%, with several funds initiating or expanding positions, including Commodore Capital, Affinity Asset Advisors, and Spruce Street Capital.
• CATX opened at $2.91, well below its 52-week high of $6.16. Despite minimal revenue and ongoing losses, analysts maintain a consensus “Buy” rating with an average price target of $12.62.

Avidity Partners Management LP grew its stake in shares of Perspective Therapeutics, Inc. (NYSEAMERICAN:CATX - Free Report) by 88.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,049,999 shares of the company's stock after purchasing an additional 2,839,266 shares during the quarter. Perspective Therapeutics makes up 5.0% of Avidity Partners Management LP's portfolio, making the stock its 4th largest holding. Avidity Partners Management LP owned about 5.30% of Perspective Therapeutics worth $25,228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Commodore Capital LP acquired a new position in shares of Perspective Therapeutics during the first quarter valued at $26,424,000. Affinity Asset Advisors LLC lifted its position in Perspective Therapeutics by 954.9% in the 1st quarter. Affinity Asset Advisors LLC now owns 3,164,582 shares of the company's stock valued at $13,196,000 after purchasing an additional 2,864,582 shares during the last quarter. Spruce Street Capital LP acquired a new position in Perspective Therapeutics during the 1st quarter valued at about $10,955,000. Opaleye Management Inc. acquired a new position in Perspective Therapeutics during the 4th quarter valued at about $3,257,000. Finally, Yu Fan bought a new position in Perspective Therapeutics in the 1st quarter worth about $4,401,000. 54.66% of the stock is currently owned by institutional investors and hedge funds.

Perspective Therapeutics Price Performance

NYSEAMERICAN:CATX opened at $2.91 on Friday. Perspective Therapeutics, Inc. has a 1-year low of $1.96 and a 1-year high of $6.16. The business's fifty day moving average price is $3.22 and its 200 day moving average price is $3.90.

Perspective Therapeutics (NYSEAMERICAN:CATX - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.04. The business had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.16 million. Perspective Therapeutics had a negative net margin of 17,982.69% and a negative return on equity of 42.33%. Analysts predict that Perspective Therapeutics, Inc. will post -1.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on CATX. Wedbush restated an "outperform" rating and issued a $11.00 price target on shares of Perspective Therapeutics in a research note on Tuesday, May 5th. BTIG Research reissued a "buy" rating on shares of Perspective Therapeutics in a research note on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $12.62.

About Perspective Therapeutics

Perspective Therapeutics, Inc, together with its subsidiaries, develops precision-targeted alpha therapies (TAT) for oncology that treats cancer patients across multiple tumor types comprising metastatic disease. The company discovers, designs, and develop its initial programs candidates consists of VMT-a-NET, that is currently in Phase 1/2a clinical trials for patients with unresectable or metastatic somatostatin receptor type 2 (SSTR2) expressing tumors that have not previously received peptide-targeted radiopharmaceutical therapy, such as Lutathera, a beta-emitting therapy; and VMT01, which is currently in Phase 1/2a clinical trials for second-line or later treatment of patients with progressive melanocortin 1 receptor (MC1R) positive metastatic melanoma.

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