Shares of Loxo Oncology (NASDAQ:LOXO) rose 2.1% during trading on Tuesday . The company traded as high as $136.52 and last traded at $130.67. Approximately 341,183 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 392,213 shares. The stock had previously closed at $133.45.
LOXO has been the subject of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $135.00 price target on shares of Loxo Oncology in a research report on Friday, March 2nd. Morgan Stanley cut Loxo Oncology from an “overweight” rating to an “equal weight” rating and set a $103.00 price target for the company. in a research report on Wednesday, March 21st. They noted that the move was a valuation call. Cann initiated coverage on Loxo Oncology in a research report on Wednesday, February 21st. They issued an “outperform” rating and a $132.00 price target for the company. BidaskClub upgraded Loxo Oncology from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research upgraded Loxo Oncology from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Twelve equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $131.89.
The stock has a market capitalization of $3,693.90, a PE ratio of -24.68 and a beta of 2.32.
In related news, Director Avi Z. Naider sold 15,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $100.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the director now directly owns 141,118 shares of the company’s stock, valued at $14,111,800. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jennifer Burstein sold 1,700 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $131.33, for a total value of $223,261.00. Following the transaction, the vice president now directly owns 1,700 shares of the company’s stock, valued at $223,261. The disclosure for this sale can be found here. Insiders have sold 72,646 shares of company stock valued at $7,600,358 in the last quarter. 27.80% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. QS Investors LLC bought a new position in Loxo Oncology during the fourth quarter valued at approximately $118,000. Xact Kapitalforvaltning AB bought a new position in Loxo Oncology during the fourth quarter valued at approximately $208,000. Cambridge Investment Research Advisors Inc. boosted its stake in Loxo Oncology by 26.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 2,917 shares of the biopharmaceutical company’s stock valued at $246,000 after buying an additional 617 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Loxo Oncology by 195.8% during the third quarter. Great West Life Assurance Co. Can now owns 2,958 shares of the biopharmaceutical company’s stock valued at $275,000 after buying an additional 1,958 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Loxo Oncology during the fourth quarter valued at approximately $323,000.
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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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