Loxo Oncology Inc (LOXO) Position Lifted by BlackRock Inc.

BlackRock Inc. boosted its holdings in Loxo Oncology Inc (NASDAQ:LOXO) by 15.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,095,164 shares of the biopharmaceutical company’s stock after acquiring an additional 280,475 shares during the period. BlackRock Inc. owned 6.97% of Loxo Oncology worth $363,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Lord Abbett & CO. LLC lifted its holdings in Loxo Oncology by 20.8% in the first quarter. Lord Abbett & CO. LLC now owns 666,771 shares of the biopharmaceutical company’s stock valued at $76,926,000 after acquiring an additional 114,963 shares during the last quarter. Rock Springs Capital Management LP lifted its holdings in Loxo Oncology by 2.1% in the first quarter. Rock Springs Capital Management LP now owns 316,500 shares of the biopharmaceutical company’s stock valued at $36,515,000 after acquiring an additional 6,500 shares during the last quarter. Opaleye Management Inc. raised its position in Loxo Oncology by 1.8% in the first quarter. Opaleye Management Inc. now owns 179,400 shares of the biopharmaceutical company’s stock valued at $20,697,000 after purchasing an additional 3,100 shares during the period. Bank of New York Mellon Corp raised its position in Loxo Oncology by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 135,562 shares of the biopharmaceutical company’s stock valued at $23,518,000 after purchasing an additional 13,033 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Loxo Oncology by 16.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 129,016 shares of the biopharmaceutical company’s stock valued at $22,382,000 after purchasing an additional 18,041 shares during the period. Hedge funds and other institutional investors own 97.46% of the company’s stock.

In other news, CEO Joshua H. Bilenker sold 57,000 shares of the company’s stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $178.62, for a total transaction of $10,181,340.00. Following the sale, the chief executive officer now owns 127,707 shares of the company’s stock, valued at $22,811,024.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Aisling Capital Iii Lp sold 1,400,000 shares of the company’s stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $179.43, for a total value of $251,202,000.00. The disclosure for this sale can be found here. Insiders have sold 1,513,864 shares of company stock worth $271,011,572 in the last ninety days. Corporate insiders own 17.10% of the company’s stock.

Shares of NASDAQ LOXO opened at $165.38 on Friday. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of -31.15 and a beta of 2.25. Loxo Oncology Inc has a 52-week low of $71.45 and a 52-week high of $208.95.

Loxo Oncology (NASDAQ:LOXO) last announced its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.15. The firm had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $32.36 million. During the same period in the previous year, the firm earned ($0.94) EPS. equities research analysts expect that Loxo Oncology Inc will post -0.47 EPS for the current year.

A number of analysts have issued reports on the company. Zacks Investment Research lowered Loxo Oncology from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Stifel Nicolaus boosted their target price on Loxo Oncology from $190.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, June 4th. JMP Securities set a $182.00 target price on Loxo Oncology and gave the company a “buy” rating in a research report on Thursday, May 17th. Citigroup boosted their target price on Loxo Oncology to $235.00 and gave the company a “buy” rating in a research report on Monday, June 4th. Finally, BidaskClub raised Loxo Oncology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 7th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Loxo Oncology currently has an average rating of “Buy” and a consensus price target of $188.40.

Loxo Oncology Company Profile

Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.

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Institutional Ownership by Quarter for Loxo Oncology (NASDAQ:LOXO)

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