Insider Selling: Loxo Oncology, Inc. (LOXO) Director Sells 5,000 Shares of Stock
Loxo Oncology, Inc. (NASDAQ:LOXO) Director Avi Z. Naider sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $90.00, for a total value of $450,000.00. Following the transaction, the director now directly owns 154,118 shares of the company’s stock, valued at $13,870,620. The sale 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 0.16% during mid-day trading on Friday, reaching $87.49. The company’s stock had a trading volume of 1,553,867 shares. Loxo Oncology, Inc. has a 52 week low of $17.14 and a 52 week high of $91.00. The stock’s market capitalization is $2.61 billion. The company’s 50-day moving average is $75.66 and its 200-day moving average is $60.81.
Loxo Oncology (NASDAQ:LOXO) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.15). During the same quarter in the prior year, the business posted ($0.77) EPS. Equities analysts predict that Loxo Oncology, Inc. will post ($4.54) EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOXO. Teachers Advisors LLC boosted its stake in Loxo Oncology by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 22,139 shares of the biopharmaceutical company’s stock valued at $711,000 after acquiring an additional 905 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Loxo Oncology by 31.9% in the first quarter. Nationwide Fund Advisors now owns 27,434 shares of the biopharmaceutical company’s stock valued at $1,154,000 after acquiring an additional 6,632 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Loxo Oncology by 33.3% in the first quarter. Wells Fargo & Company MN now owns 15,503 shares of the biopharmaceutical company’s stock valued at $653,000 after acquiring an additional 3,875 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Loxo Oncology by 92.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 19,200 shares of the biopharmaceutical company’s stock valued at $803,000 after acquiring an additional 9,200 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Loxo Oncology by 41.8% in the first quarter. Bank of New York Mellon Corp now owns 102,442 shares of the biopharmaceutical company’s stock valued at $4,310,000 after acquiring an additional 30,210 shares in the last quarter.
LOXO has been the subject of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $91.00 price objective on shares of Loxo Oncology in a research note on Monday, June 19th. Zacks Investment Research raised Loxo Oncology from a “sell” rating to a “hold” rating in a research note on Thursday, June 8th. Ifs Securities reaffirmed an “outperform” rating on shares of Loxo Oncology in a research note on Tuesday, August 8th. Stifel Nicolaus raised their price objective on Loxo Oncology from $52.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, June 5th. Finally, Citigroup Inc. raised Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Monday, June 5th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $70.73.
Loxo Oncology Company Profile
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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