Why Plus Therapeutics Stock Popped Today
Portfolio Pulse from Ryan Gustafson
Plus Therapeutics, Inc. (NASDAQ:PSTV) shares are trading higher after the company reported Q3 financial results. The company reported quarterly losses of $1.00 per share, beating the analyst consensus estimate of losses of $1.12 per share. However, quarterly sales of $1.24 million missed the analyst consensus estimate of $1.29 million. Plus Therapeutics also announced a share repurchase program to purchase up to $500,000 of common stock.
November 01, 2023 | 7:38 pm
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NEUTRAL IMPACT
Plus Therapeutics reported better-than-expected Q3 losses and announced a share repurchase program, but missed on sales. This mixed report could lead to some volatility in the stock.
The company's better-than-expected loss per share and the announcement of a share repurchase program are positive news that could push the stock price up. However, the missed sales estimate is a negative factor that could pull the stock price down. Therefore, the net impact on the stock price could be neutral in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100