Insider Selling: Loxo Oncology, Inc. (LOXO) Director Sells 7,250 Shares of Stock
Loxo Oncology, Inc. (NASDAQ:LOXO) Director Keith T. Flaherty sold 7,250 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $72.26, for a total transaction of $523,885.00. Following the transaction, the director now owns 20,432 shares in the company, valued at approximately $1,476,416.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Loxo Oncology, Inc. (NASDAQ:LOXO) traded up 0.14% during trading on Wednesday, reaching $76.29. 145,936 shares of the company’s stock were exchanged. Loxo Oncology, Inc. has a 12 month low of $17.14 and a 12 month high of $83.12. The firm’s market cap is $2.28 billion. The stock has a 50-day moving average price of $73.75 and a 200 day moving average price of $56.78.
Loxo Oncology (NASDAQ:LOXO) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.99) by $0.15. During the same quarter in the prior year, the firm posted ($0.77) earnings per share. On average, analysts forecast that Loxo Oncology, Inc. will post ($4.53) EPS for the current year.
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Hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Loxo Oncology by 20.6% in the first quarter. FMR LLC now owns 3,922,013 shares of the biopharmaceutical company’s stock valued at $165,039,000 after buying an additional 670,306 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Loxo Oncology by 34.4% in the first quarter. Wellington Management Group LLP now owns 2,437,872 shares of the biopharmaceutical company’s stock valued at $102,587,000 after buying an additional 623,730 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Loxo Oncology by 6,330.9% in the first quarter. Alliancebernstein L.P. now owns 623,802 shares of the biopharmaceutical company’s stock valued at $26,250,000 after buying an additional 614,102 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Loxo Oncology during the second quarter valued at approximately $33,347,000. Finally, State Street Corp raised its stake in shares of Loxo Oncology by 155.2% in the first quarter. State Street Corp now owns 547,017 shares of the biopharmaceutical company’s stock valued at $23,019,000 after buying an additional 332,696 shares during the last quarter.
Several research firms have recently issued reports on LOXO. Morgan Stanley reiterated an “overweight” rating and issued a $91.00 target price on shares of Loxo Oncology in a research note on Monday, June 19th. Zacks Investment Research lowered shares of Loxo Oncology from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Stifel Nicolaus increased their price target on shares of Loxo Oncology from $52.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, June 5th. Citigroup Inc. upgraded shares of Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Monday, June 5th. Finally, BTIG Research restated a “buy” rating and set a $75.00 price target on shares of Loxo Oncology in a research report on Tuesday, June 6th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Loxo Oncology presently has an average rating of “Buy” and an average target price of $79.67.
About Loxo Oncology
Loxo Oncology, Inc is a biopharmaceutical company. The Company is focused on development of medicines for patients with genetically defined cancers. The Company’s pipeline focuses on cancers that are dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer with dramatic effect.
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