Bank of America Downgrades Perspective Therapeutics (NYSE:CATX) to Neutral

Bank of America downgraded shares of Perspective Therapeutics (NYSE:CATX) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The firm currently has $5.00 target price on the stock, down from their prior target price of $24.00.

Several other research analysts have also commented on CATX. Truist Financial began coverage on shares of Perspective Therapeutics in a research note on Wednesday, September 25th. They set a “buy” rating and a $21.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Perspective Therapeutics in a report on Monday, September 9th. Royal Bank of Canada reduced 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. Oppenheimer dropped their target price on Perspective Therapeutics from $22.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, November 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $11.00 price target (down from $20.00) on shares of Perspective Therapeutics in a report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.14.

Perspective Therapeutics Stock Down 6.4 %

CATX opened at $4.12 on Monday. The stock has a 50-day moving average of $10.96. Perspective Therapeutics has a 12 month low of $2.28 and a 12 month high of $19.05.

Perspective Therapeutics (NYSE:CATX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.21) EPS for the quarter, hitting analysts’ consensus estimates of ($0.21). The firm had revenue of $0.37 million during the quarter. Perspective Therapeutics had a negative return on equity of 27.40% and a negative net margin of 4,096.66%. Analysts anticipate that Perspective Therapeutics will post -0.87 earnings per share for the current year.

Insider Transactions at Perspective Therapeutics

In other news, CFO Jonathan Robert Hunt acquired 12,829 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $3.82 per share, for a total transaction of $49,006.78. Following the completion of the acquisition, the chief financial officer now directly owns 48,800 shares of the company’s stock, valued at $186,416. The trade was a 35.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Johan M. Spoor acquired 14,500 shares of the stock in a transaction that occurred on 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 completion of the purchase, the chief executive officer now owns 152,072 shares of the company’s stock, valued at $574,832.16. This trade represents a 10.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 33,595 shares of company stock valued at $126,625. 3.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Perspective Therapeutics Company Profile

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.