Plus Therapeutics (NASDAQ:PSTV) Stock Price Down 3.2% – Here’s What Happened

Shares of Plus Therapeutics, Inc. (NASDAQ:PSTV) dropped 3.2% during trading on Tuesday . The stock traded as low as $3.90 and last traded at $3.92. 84,374 shares were traded during mid-day trading, a decline of 60% from the average session volume of 212,309 shares. The stock had previously closed at $4.05.

Analysts Set New Price Targets

Several research analysts recently issued reports on PSTV shares. Weiss Ratings restated a “sell (e+)” rating on shares of Plus Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen upgraded Plus Therapeutics to a “sell” rating in a report on Saturday, April 4th. D. Boral Capital reissued a “hold” rating on shares of Plus Therapeutics in a research report on Tuesday, March 31st. Finally, Ascendiant Capital Markets cut their price target on Plus Therapeutics from $65.00 to $57.00 and set a “buy” rating for the company in a report on Monday, June 8th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.40.

Plus Therapeutics Stock Performance

The company has a fifty day simple moving average of $5.28 and a two-hundred day simple moving average of $6.89. The company has a market capitalization of $27.52 million, a price-to-earnings ratio of -1.74 and a beta of 1.40.

Plus Therapeutics (NASDAQ:PSTV) last posted its quarterly earnings data on Friday, May 15th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.20). The business had revenue of $1.03 million for the quarter, compared to analyst estimates of $0.97 million. Plus Therapeutics had a negative return on equity of 198.48% and a negative net margin of 230.24%. As a group, analysts expect that Plus Therapeutics, Inc. will post -3.76 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. L1 Global Manager Pty Ltd acquired a new stake in shares of Plus Therapeutics in the fourth quarter worth approximately $1,167,000. Geode Capital Management LLC increased its position in Plus Therapeutics by 72.5% during the fourth quarter. Geode Capital Management LLC now owns 1,402,794 shares of the company’s stock worth $719,000 after purchasing an additional 589,544 shares during the last quarter. Jane Street Group LLC purchased a new position in Plus Therapeutics during the fourth quarter worth approximately $525,000. Virtu Financial LLC purchased a new position in Plus Therapeutics during the fourth quarter worth approximately $254,000. Finally, State Street Corp boosted its holdings in shares of Plus Therapeutics by 37.1% in the 4th quarter. State Street Corp now owns 468,893 shares of the company’s stock valued at $240,000 after purchasing an additional 127,000 shares during the last quarter. Institutional investors and hedge funds own 3.28% of the company’s stock.

About Plus Therapeutics

Plus Therapeutics is a clinical?stage biopharmaceutical company specializing in the development of targeted radiotherapeutics for oncology. Its platform technologies leverage nanoliposomes and microspheres to deliver therapeutic radioisotopes directly to tumor sites. The company’s lead candidate, 90Y-HP-DO3A, is in Phase 2 development for recurrent high-grade gliomas, while its rhenium-based nanoliposome program is under investigation for diffuse intrinsic pontine glioma and brain metastases.

The pipeline also includes investigational treatments for bone metastases, malignant pleural effusions and other hard-to-treat solid tumors.