Russell Investments Group Ltd. increased its stake in shares of Loxo Oncology Inc (NASDAQ:LOXO) by 33.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,484 shares of the biopharmaceutical company’s stock after acquiring an additional 25,060 shares during the period. Russell Investments Group Ltd. owned about 0.33% of Loxo Oncology worth $17,050,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Fortaleza Asset Management Inc. acquired a new stake in shares of Loxo Oncology during the second quarter worth $110,000. First Mercantile Trust Co. acquired a new stake in shares of Loxo Oncology during the second quarter worth $122,000. Douglass Winthrop Advisors LLC acquired a new stake in shares of Loxo Oncology during the second quarter worth $204,000. Zeke Capital Advisors LLC acquired a new stake in shares of Loxo Oncology during the second quarter worth $208,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Loxo Oncology during the second quarter worth $209,000. Institutional investors and hedge funds own 97.77% of the company’s stock.
Shares of LOXO stock opened at $166.77 on Friday. Loxo Oncology Inc has a 1 year low of $71.45 and a 1 year high of $208.95. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of -31.41 and a beta of 2.26.
Loxo Oncology (NASDAQ:LOXO) last issued its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.24). The business had revenue of $42.47 million for the quarter, compared to analysts’ expectations of $38.55 million. During the same quarter in the prior year, the firm earned ($2.45) EPS. Equities research analysts anticipate that Loxo Oncology Inc will post -2.52 earnings per share for the current fiscal year.
In other Loxo Oncology news, insider Naarden Jacob Van sold 10,000 shares of Loxo Oncology stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $159.34, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Burstein sold 2,500 shares of Loxo Oncology stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $159.24, for a total transaction of $398,100.00. Following the completion of the sale, the vice president now owns 1,250 shares in the company, valued at $199,050. The disclosure for this sale can be found here. Insiders sold a total of 102,500 shares of company stock worth $16,798,550 over the last quarter. Company insiders own 17.10% of the company’s stock.
A number of brokerages recently commented on LOXO. Guggenheim began coverage on shares of Loxo Oncology in a report on Monday, September 17th. They set a “neutral” rating on the stock. Zacks Investment Research lowered shares of Loxo Oncology from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Leerink Swann began coverage on shares of Loxo Oncology in a report on Monday, September 24th. They set an “outperform” rating and a $205.00 price objective on the stock. Cowen restated a “buy” rating on shares of Loxo Oncology in a report on Monday, October 22nd. Finally, William Blair restated a “buy” rating on shares of Loxo Oncology in a report on Monday, October 22nd. One investment 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. The stock presently has an average rating of “Buy” and a consensus target price of $188.75.
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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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