Verition Fund Management LLC Takes Position in Perspective Therapeutics, Inc. (NYSE:CATX)

Verition Fund Management LLC purchased a new stake in shares of Perspective Therapeutics, Inc. (NYSE:CATX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,723 shares of the company’s stock, valued at approximately $383,000.

Other institutional investors and hedge funds have also modified their holdings of the company. WealthPlan Investment Management LLC purchased a new position in shares of Perspective Therapeutics during the third quarter valued at $4,530,000. Hills Bank & Trust Co purchased a new position in shares of Perspective Therapeutics during the third quarter valued at $13,722,000. Nicholson Wealth Management Group LLC purchased a new position in shares of Perspective Therapeutics during the third quarter valued at $21,390,000. FMR LLC grew its holdings in shares of Perspective Therapeutics by 3,994.9% during the third quarter. FMR LLC now owns 5,504,822 shares of the company’s stock valued at $73,489,000 after buying an additional 5,370,392 shares in the last quarter. Finally, WealthPLAN Partners LLC purchased a new position in Perspective Therapeutics in the second quarter valued at about $1,695,000. Hedge funds and other institutional investors own 54.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CATX. Royal Bank of Canada lowered their target price on Perspective Therapeutics from $25.00 to $16.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. UBS Group assumed coverage on Perspective Therapeutics in a research report on Thursday, October 24th. They issued a “buy” rating and a $20.00 price target for the company. Bank of America cut Perspective Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $24.00 to $5.00 in a research report on Monday, November 25th. Oppenheimer reduced their price target 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, Truist Financial assumed coverage on Perspective Therapeutics in a research report on Wednesday, September 25th. They issued a “buy” rating and a $21.00 price target for the company. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.14.

Insider Activity

In related news, Director Heidi Henson acquired 25,975 shares of the stock in a transaction dated Wednesday, December 4th. The shares were bought at an average cost of $3.85 per share, for a total transaction of $100,003.75. Following the purchase, the director now owns 25,975 shares in the company, valued at approximately $100,003.75. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Johan M. Spoor acquired 8,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $3.77 per share, for a total transaction of $30,160.00. Following the completion of the purchase, the chief executive officer now owns 36,257 shares in the company, valued at approximately $136,688.89. This trade represents a 28.31 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 67,570 shares of company stock worth $256,789. Company insiders own 3.52% of the company’s stock.

Perspective Therapeutics Stock Performance

Shares of CATX opened at $3.47 on Friday. Perspective Therapeutics, Inc. has a 12-month low of $2.28 and a 12-month high of $19.05. The stock’s 50-day moving average price is $8.99 and its 200 day moving average price is $11.59.

Perspective Therapeutics (NYSE:CATX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting 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 analysts predict that Perspective Therapeutics, Inc. will post -0.88 EPS for the current year.

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.