Dynamic Technology Lab Private Ltd acquired a new position in shares of Loxo Oncology Inc (NASDAQ:LOXO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,011 shares of the biopharmaceutical company’s stock, valued at approximately $348,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortaleza Asset Management Inc. acquired a new position in Loxo Oncology during the second quarter worth $110,000. First Mercantile Trust Co. acquired a new position in Loxo Oncology during the second quarter worth $122,000. Quantbot Technologies LP raised its holdings in Loxo Oncology by 770.1% during the first quarter. Quantbot Technologies LP now owns 931 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 824 shares during the last quarter. IFP Advisors Inc raised its holdings in Loxo Oncology by 509.6% during the first quarter. IFP Advisors Inc now owns 1,012 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 846 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC acquired a new position in Loxo Oncology during the second quarter worth $204,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.
LOXO traded up $4.54 during trading on Friday, hitting $164.06. 243,339 shares of the company traded hands, compared to its average volume of 415,293. The firm has a market cap of $5.21 billion, a P/E ratio of -30.90 and a beta of 2.26. Loxo Oncology Inc has a one year low of $71.45 and a one year high of $208.95.
Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.15. The company had revenue of $42.60 million for the quarter, compared to the consensus estimate of $32.36 million. During the same quarter in the previous year, the company posted ($0.94) EPS. Equities analysts predict that Loxo Oncology Inc will post -2.54 EPS for the current year.
Several research analysts have weighed in on the stock. BidaskClub downgraded shares of Loxo Oncology from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Piper Jaffray Companies set a $200.00 price objective on shares of Loxo Oncology and gave the stock a “buy” rating in a report on Sunday, October 7th. Morgan Stanley lowered their price objective on shares of Loxo Oncology from $215.00 to $213.00 and set an “overweight” rating on the stock in a report on Thursday. William Blair reiterated a “buy” rating on shares of Loxo Oncology in a report on Monday, October 8th. Finally, Cowen reiterated a “buy” rating on shares of Loxo Oncology in a report on Sunday, October 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Loxo Oncology presently has a consensus rating of “Buy” and a consensus target price of $188.92.
In other Loxo Oncology news, insider Naarden Jacob Van sold 10,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $159.34, for a total transaction of $1,593,400.00. Following the completion of the transaction, the insider now owns 19,200 shares in the company, valued at $3,059,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Burstein sold 2,500 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $159.24, for a total transaction of $398,100.00. Following the transaction, the vice president now owns 1,250 shares of the company’s stock, valued at approximately $199,050. The disclosure for this sale can be found here. Insiders have sold 102,500 shares of company stock valued at $16,798,550 in the last quarter. Company insiders own 17.10% of the company’s stock.
Loxo Oncology Company Profile
Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.
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