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

According to Zacks, “Endocyte reported wider than expected loss in second-quarter 2017. During the quarter, the company stopped enrollment in the phase Ib study evaluating EC1456 for lung cancer as well as stop enrollment of taxane-naive metastatic castration-resistant prostate cancer patients for EC1169. The company now plans to focus on its most promising programs like CAR T-cell small-molecule drug conjugates (SMDC) adaptor platform, and its pipeline candidate EC2629. However, with no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Moreover, shares of the company have underperformed the industry year to date.”

Other analysts also recently issued research reports about the stock. Wedbush downgraded shares of Endocyte from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $8.00 to $2.00 in a report on Monday, June 5th. Cowen and Company downgraded shares of Endocyte from an “outperform” rating to a “market perform” rating in a report on Friday, June 2nd. Finally, ValuEngine downgraded shares of Endocyte from a “sell” rating to a “strong sell” rating in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $3.58.

Shares of Endocyte (NASDAQ:ECYT) traded down 0.74% on Monday, hitting $1.35. The stock had a trading volume of 166,799 shares. The firm’s 50-day moving average price is $1.45 and its 200 day moving average price is $2.04. Endocyte has a 12 month low of $1.32 and a 12 month high of $3.49. The firm’s market cap is $57.33 million.

Endocyte (NASDAQ:ECYT) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by $0.03. Endocyte had a negative return on equity of 32.68% and a negative net margin of 61,437.14%. The company had revenue of $0.01 million for the quarter. During the same period in the previous year, the business posted ($0.25) EPS. Analysts anticipate that Endocyte will post ($0.93) EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Endocyte by 34.1% in the second quarter. Dimensional Fund Advisors LP now owns 98,313 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 25,003 shares during the last quarter. FMR LLC boosted its position in Endocyte by 0.9% in the second quarter. FMR LLC now owns 3,540,203 shares of the biopharmaceutical company’s stock worth $5,310,000 after buying an additional 31,168 shares during the last quarter. LMR Partners LLP bought a new position in Endocyte during the second quarter worth $196,000. Spark Investment Management LLC bought a new position in Endocyte during the second quarter worth $177,000. Finally, Renaissance Technologies LLC boosted its position in Endocyte by 284.4% in the first quarter. Renaissance Technologies LLC now owns 192,561 shares of the biopharmaceutical company’s stock worth $495,000 after buying an additional 142,461 shares during the last quarter. 32.67% of the stock is owned by institutional investors and hedge funds.

Endocyte Company Profile

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