Bank of Montreal Can lifted its holdings in Loxo Oncology Inc (NASDAQ:LOXO) by 39.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,354 shares of the biopharmaceutical company’s stock after buying an additional 3,198 shares during the quarter. Bank of Montreal Can’s holdings in Loxo Oncology were worth $1,941,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its position in Loxo Oncology by 16.3% in the 2nd 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 last quarter. BlackRock Inc. lifted its position in Loxo Oncology by 15.5% in the 2nd quarter. BlackRock Inc. now owns 2,095,164 shares of the biopharmaceutical company’s stock valued at $363,468,000 after purchasing an additional 280,475 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Loxo Oncology in the 2nd quarter valued at about $454,000. Dynamic Technology Lab Private Ltd bought a new stake in Loxo Oncology in the 2nd quarter valued at about $348,000. Finally, Stevens Capital Management LP bought a new stake in Loxo Oncology in the 2nd quarter valued at about $519,000. Hedge funds and other institutional investors own 97.77% of the company’s stock.
In other Loxo Oncology news, insider Naarden Jacob Van sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $159.34, for a total transaction of $1,593,400.00. Following the sale, the insider now directly owns 19,200 shares in the company, valued at approximately $3,059,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Burstein sold 2,500 shares of the business’s stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $164.92, for a total transaction of $412,300.00. Following the sale, the vice president now owns 1,250 shares in the company, valued at $206,150. The disclosure for this sale can be found here. Insiders have sold a total of 102,500 shares of company stock worth $16,798,550 over the last 90 days. 17.10% of the stock is owned by insiders.
Several brokerages recently weighed in on LOXO. Zacks Investment Research downgraded shares of Loxo Oncology from a “hold” rating to a “sell” rating in a research report on Saturday. Citigroup cut their price objective on shares of Loxo Oncology from $235.00 to $233.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Piper Jaffray Companies set a $200.00 price objective on shares of Loxo Oncology and gave the company a “buy” rating in a research report on Monday, October 22nd. William Blair reiterated a “buy” rating on shares of Loxo Oncology in a research report on Monday, October 22nd. Finally, Cowen reiterated a “buy” rating on shares of Loxo Oncology in a research report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Loxo Oncology presently has a consensus rating of “Buy” and an average target price of $188.75.
LOXO stock opened at $166.77 on Friday. Loxo Oncology Inc has a 52 week low of $71.45 and a 52 week high of $208.95. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of -31.41 and a beta of 2.26.
Loxo Oncology (NASDAQ:LOXO) last released its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.24). The business had revenue of $42.47 million for the quarter, compared to the consensus estimate of $38.55 million. During the same quarter last year, the business earned ($2.45) EPS. On average, sell-side analysts anticipate that Loxo Oncology Inc will post -2.52 earnings per share for the current fiscal year.
Loxo Oncology 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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