Endocyte Inc. (ECYT) Sees Large Volume Increase
Endocyte Inc. (NASDAQ:ECYT) shares saw unusually-high trading volume on Wednesday . Approximately 268,987 shares traded hands during mid-day trading, an increase of 89% from the previous session’s volume of 142,343 shares.The stock last traded at $3.10 and had previously closed at $3.00.
ECYT has been the subject of several analyst reports. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Endocyte in a research note on Tuesday, July 12th. Zacks Investment Research raised shares of Endocyte from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $8.69.
The stock’s market capitalization is $131.02 million. The firm has a 50-day moving average price of $3.07 and a 200-day moving average price of $3.40.
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Endocyte (NASDAQ:ECYT) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.25) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.01. Endocyte had a negative net margin of 58,957.14% and a negative return on equity of 24.71%. During the same period in the prior year, the firm earned ($0.25) earnings per share. On average, equities research analysts expect that Endocyte Inc. will post ($1.12) earnings per share for the current year.
A number of large investors have recently modified their holdings of ECYT. Concannon Wealth Management LLC increased its stake in shares of Endocyte by 6.5% in the second quarter. Concannon Wealth Management LLC now owns 32,639 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 2,000 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Endocyte by 31.4% in the second quarter. Nationwide Fund Advisors now owns 33,417 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 7,989 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Endocyte by 1.7% in the second quarter. ProShare Advisors LLC now owns 36,028 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 585 shares during the last quarter. Stifel Financial Corp purchased a new stake in shares of Endocyte during the second quarter valued at approximately $127,000. Finally, Cribstone Capital Management LLC increased its stake in shares of Endocyte by 45.5% in the second quarter. Cribstone Capital Management LLC now owns 47,349 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 14,808 shares during the last quarter. 36.48% of the stock is owned by hedge funds and other institutional investors.
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