Endocyte Sees Significant Growth in Short Interest (ECYT)
Endocyte (NASDAQ:ECYT) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 6,139,017 shares, a growth of 36.0% from the April 30th total of 4,513,238 shares, StockRatingsNetwork reports. Approximately 19.2% of the company’s stock are short sold. Based on an average trading volume of 3,628,425 shares, the short-interest ratio is currently 1.7 days.
Several analysts have recently commented on the stock. Analysts at Chardan Capital cut their price target on shares of Endocyte from $43.00 to $26.00 in a research note on Monday, May 5th. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of Endocyte from $46.00 to $20.00 in a research note on Monday, May 5th. They now have an “outperform” rating on the stock. Finally, analysts at Brean Capital cut their price target on shares of Endocyte from $41.00 to $22.00 in a research note on Friday, May 2nd. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.51.
Endocyte (NASDAQ:ECYT) opened at 6.33 on Monday. Endocyte has a 1-year low of $6.01 and a 1-year high of $33.70. The stock’s 50-day moving average is $11.74 and its 200-day moving average is $13.23. The company’s market cap is $262.7 million.
Endocyte (NASDAQ:ECYT) last announced its earnings results on Friday, May 2nd. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.14) by $0.05. The company had revenue of $17.30 million for the quarter, compared to the consensus estimate of $15.07 million. On average, analysts predict that Endocyte will post $-0.23 earnings per share for the current fiscal year.
Endocyte, Inc (NASDAQ:ECYT) is a biopharmaceutical company.
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