Plus Therapeutics (NASDAQ:PSTV) Trading Down 9.9% – Here’s What Happened

Plus Therapeutics, Inc. (NASDAQ:PSTV)’s stock price was down 9.9% during mid-day trading on Thursday . The company traded as low as $3.36 and last traded at $3.5110. Approximately 121,978 shares changed hands during trading, a decline of 69% from the average daily volume of 395,255 shares. The stock had previously closed at $3.8950.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. D. Boral Capital restated a “hold” rating on shares of Plus Therapeutics in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and set a $1.00 price target (down from $2.00) on shares of Plus Therapeutics in a research report on Friday, January 23rd. Lake Street Capital initiated coverage on shares of Plus Therapeutics in a report on Tuesday, February 3rd. They issued a “buy” rating and a $2.00 price target on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Plus Therapeutics in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.60.

Plus Therapeutics Stock Down 10.8%

The company’s 50-day moving average is $0.26 and its two-hundred day moving average is $0.46. The company has a market capitalization of $596.14 million, a P/E ratio of -2.80 and a beta of 0.79.

Institutional Trading of Plus Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. L1 Global Manager Pty Ltd bought a new stake in shares of Plus Therapeutics during the 4th quarter worth $1,167,000. Jane Street Group LLC bought a new position in Plus Therapeutics in the fourth quarter valued at $525,000. Altium Capital Management LLC bought a new position in Plus Therapeutics in the third quarter valued at $628,000. Geode Capital Management LLC raised 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 valued at $719,000 after purchasing an additional 589,544 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Plus Therapeutics during the fourth quarter valued at about $254,000. Hedge funds and other institutional investors own 3.28% of the company’s stock.

Plus Therapeutics Company Profile

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.