Turning Point Therapeutics, Inc. (NASDAQ:TPTX – Get Rating) shares saw unusually-high trading volume on Tuesday . Approximately 50,472 shares were traded during trading, a decline of 94% from the previous session's volume of 866,046 shares.The stock last traded at $75.99 and had previously closed at $75.49.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. HC Wainwright downgraded shares of Turning Point Therapeutics from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $161.00 to $76.00 in a research note on Monday, June 6th. The Goldman Sachs Group lowered their target price on shares of Turning Point Therapeutics from $143.00 to $116.00 and set a "buy" rating for the company in a research note on Tuesday, May 24th. Wedbush downgraded shares of Turning Point Therapeutics from an "outperform" rating to a "neutral" rating and lifted their target price for the stock from $61.00 to $76.00 in a research note on Friday, June 3rd. Guggenheim set a $76.00 target price on shares of Turning Point Therapeutics in a research note on Monday, June 20th. Finally, Bank of America assumed coverage on shares of Turning Point Therapeutics in a research note on Friday, May 20th. They set a "buy" rating and a $58.00 target price for the company. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $78.22.

Turning Point Therapeutics Stock Up 0.7 %

The firm's 50-day moving average price is $75.01 and its 200 day moving average price is $47.54. The company has a market capitalization of $3.81 billion, a P/E ratio of -11.02 and a beta of -0.18.

Insider Buying and Selling

In related news, CFO Paolo Tombesi sold 1,183 shares of the business's stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $74.94, for a total transaction of $88,654.02. Following the transaction, the chief financial officer now directly owns 28,700 shares in the company, valued at $2,150,778. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Congress Asset Management Co. MA boosted its stake in Turning Point Therapeutics by 0.4% in the second quarter. Congress Asset Management Co. MA now owns 70,100 shares of the company's stock valued at $5,275,000 after acquiring an additional 308 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Turning Point Therapeutics by 5.7% during the 1st quarter. Teacher Retirement System of Texas now owns 8,498 shares of the company's stock worth $228,000 after acquiring an additional 461 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Turning Point Therapeutics by 2.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 17,350 shares of the company's stock worth $468,000 after acquiring an additional 480 shares during the period. Guggenheim Capital LLC increased its holdings in Turning Point Therapeutics by 4.3% during the 1st quarter. Guggenheim Capital LLC now owns 12,307 shares of the company's stock worth $330,000 after acquiring an additional 504 shares during the period. Finally, US Bancorp DE increased its holdings in Turning Point Therapeutics by 44.2% during the 2nd quarter. US Bancorp DE now owns 1,648 shares of the company's stock worth $124,000 after acquiring an additional 505 shares during the period. 90.33% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Therapeutics Company Profile

(Get Rating)

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

Featured Stories

• Get a free copy of the StockNews.com research report on Turning Point Therapeutics (TPTX)
• Which Semiconductor Stocks Are Ready For Big Price Moves?
• Miners Advance On Earnings Despite Broader Economic Challenges
• Lowe's Stands Out Amid Q2 Retail Reports
• Agilent Technologies Proves Its Worth VS Illumina
• Target's Results Cap Upside Potential For Retail Stocks

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.