Perspective Therapeutics (NYSE:CATX) Downgraded to “Neutral” Rating by Bank of America

Bank of America downgraded shares of Perspective Therapeutics (NYSE:CATX) from a buy rating to a neutral rating in a research report released on Monday, MarketBeat reports. Bank of America currently has $5.00 price target on the stock, down from their previous price target of $24.00.

Several other analysts also recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of Perspective Therapeutics from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Perspective Therapeutics in a research note on Monday, September 9th. Wedbush reissued an “outperform” rating and set a $11.00 target price (down previously from $20.00) on shares of Perspective Therapeutics in a research note on Thursday, November 21st. Oppenheimer cut their price objective on shares of Perspective Therapeutics from $22.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, November 22nd. Finally, Truist Financial assumed coverage on shares of Perspective Therapeutics in a research report on Wednesday, September 25th. They set a “buy” rating and a $21.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Perspective Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.14.

Perspective Therapeutics Stock Performance

NYSE:CATX opened at $4.12 on Monday. The business has a fifty day moving average price of $10.78 and a 200-day moving average price of $12.32. Perspective Therapeutics has a one year low of $2.28 and a one year high of $19.05.

Perspective Therapeutics (NYSE:CATX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21). Perspective Therapeutics had a negative return on equity of 27.40% and a negative net margin of 4,096.66%. The firm had revenue of $0.37 million for the quarter. Equities research analysts anticipate that Perspective Therapeutics will post -0.87 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jonathan Robert Hunt bought 12,829 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $3.82 per share, for a total transaction of $49,006.78. Following the acquisition, the chief financial officer now owns 48,800 shares of the company’s stock, valued at $186,416. This represents a 35.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Johan M. Spoor purchased 14,500 shares of the stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $3.78 per share, with a total value of $54,810.00. Following the transaction, the chief executive officer now directly owns 152,072 shares in the company, valued at approximately $574,832.16. This trade represents a 10.54 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 33,595 shares of company stock valued at $126,625 in the last three months. Corporate insiders own 3.52% of the company’s stock.

Hedge Funds Weigh In On Perspective Therapeutics

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in Perspective Therapeutics during the 3rd quarter worth $57,000. US Bancorp DE lifted its holdings in shares of Perspective Therapeutics by 142.7% in the 3rd quarter. US Bancorp DE now owns 6,576 shares of the company’s stock valued at $88,000 after buying an additional 3,866 shares during the period. Victory Capital Management Inc. purchased a new stake in Perspective Therapeutics in the 2nd quarter worth approximately $117,000. Point72 DIFC Ltd acquired a new position in shares of Perspective Therapeutics in the second quarter worth about $118,000. Finally, Intech Investment Management LLC acquired a new position in shares of Perspective Therapeutics during the 3rd quarter worth approximately $137,000. 54.66% of the stock is currently owned by institutional investors.

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.