Endocyte Inc. (NASDAQ:ECYT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Endocyte is a development-stage biopharmaceutical company, focused on the development of therapies for cancer and inflammatory diseases. The company uses its proprietary technology platform to develop various new small-molecule drug conjugates for a range of diseases. In addition, the company is working on the development of companion imaging agents that help to identify patients who are most likely to benefit from its product. Estimates have been mostly stable ahead of the company’s Q3 earnings release. However, with no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Moreover, vintafolide, in combination with docetaxel, demonstrated higher rates of hematologic and peripheral neuropathy adverse events in a phase IIb study. Consequently, Endocyte shifted its focus to the development of its second-generation folate targeted agent, EC1456, in second-line NSCLC.”

Separately, Credit Suisse Group AG reissued a “buy” rating on shares of Endocyte in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Endocyte currently has an average rating of “Buy” and an average target price of $8.19.

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Shares of Endocyte (NASDAQ:ECYT) traded up 0.35% on Tuesday, hitting $2.90. The stock had a trading volume of 77,259 shares. Endocyte has a one year low of $2.65 and a one year high of $5.63. The firm’s 50-day moving average is $3.08 and its 200-day moving average is $3.37. The company’s market cap is $122.56 million.

Endocyte (NASDAQ:ECYT) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.01. Endocyte had a negative return on equity of 24.71% and a negative net margin of 58,957.14%. During the same quarter last year, the firm posted ($0.25) EPS. On average, analysts expect that Endocyte will post ($1.12) EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Endocyte by 30,170.2% in the second quarter. JPMorgan Chase & Co. now owns 782,485 shares of the biopharmaceutical company’s stock valued at $2,512,000 after buying an additional 779,900 shares during the period. Bellevue Group AG purchased a new position in Endocyte during the first quarter worth about $310,000. BlackRock Fund Advisors increased its position in Endocyte by 3.5% in the second quarter. BlackRock Fund Advisors now owns 1,561,432 shares of the biopharmaceutical company’s stock worth $5,012,000 after buying an additional 52,481 shares in the last quarter. Stifel Financial Corp purchased a new position in Endocyte during the second quarter worth about $127,000. Finally, Bridgeway Capital Management Inc. increased its position in Endocyte by 11.9% in the second quarter. Bridgeway Capital Management Inc. now owns 195,800 shares of the biopharmaceutical company’s stock worth $629,000 after buying an additional 20,900 shares in the last quarter. 36.48% of the stock is currently owned by institutional investors and hedge funds.

About Endocyte

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