Loxo Oncology Inc (LOXO) Position Trimmed by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in shares of Loxo Oncology Inc (NASDAQ:LOXO) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,047 shares of the biopharmaceutical company’s stock after selling 12,940 shares during the period. Franklin Resources Inc. owned 0.89% of Loxo Oncology worth $46,645,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Advisory Inc. boosted its position in shares of Loxo Oncology by 177.7% in the third quarter. Brown Advisory Inc. now owns 175,034 shares of the biopharmaceutical company’s stock valued at $29,901,000 after acquiring an additional 112,005 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Loxo Oncology by 31.9% in the third quarter. Dimensional Fund Advisors LP now owns 44,083 shares of the biopharmaceutical company’s stock valued at $7,532,000 after acquiring an additional 10,657 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Loxo Oncology by 50.5% in the third quarter. Panagora Asset Management Inc. now owns 22,262 shares of the biopharmaceutical company’s stock valued at $3,803,000 after acquiring an additional 7,471 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of Loxo Oncology by 4.6% in the third quarter. Pictet Asset Management Ltd. now owns 164,872 shares of the biopharmaceutical company’s stock valued at $28,165,000 after acquiring an additional 7,318 shares during the period. Finally, Carillon Tower Advisers Inc. bought a new stake in shares of Loxo Oncology in the third quarter valued at about $43,757,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

In related news, Director Lori Anne Kunkel sold 5,000 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $170.37, for a total transaction of $851,850.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $851,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua H. Bilenker sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $166.20, for a total transaction of $3,324,000.00. The disclosure for this sale can be found here. Insiders have sold 102,500 shares of company stock valued at $16,412,950 in the last ninety days. 17.10% of the stock is currently owned by company insiders.

LOXO opened at $135.00 on Friday. Loxo Oncology Inc has a twelve month low of $75.78 and a twelve month high of $208.95.

Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.24). Loxo Oncology had a negative return on equity of 16.42% and a negative net margin of 43.49%. The firm had revenue of $42.47 million for the quarter, compared to the consensus estimate of $38.55 million. During the same period in the prior year, the company earned ($2.45) EPS. As a group, analysts expect that Loxo Oncology Inc will post -2.34 earnings per share for the current fiscal year.

A number of equities research analysts have recently issued reports on LOXO shares. Piper Jaffray Companies set a $200.00 target price on shares of Loxo Oncology and gave the company a “buy” rating in a research report on Wednesday, September 26th. Stifel Nicolaus reduced their target price on shares of Loxo Oncology from $225.00 to $217.00 and set a “buy” rating for the company in a research report on Friday, August 10th. William Blair reissued a “buy” rating on shares of Loxo Oncology in a research report on Monday, October 8th. Cowen reissued a “buy” rating on shares of Loxo Oncology in a research report on Sunday, October 7th. Finally, Cann reissued a “buy” rating and issued a $202.00 target price on shares of Loxo Oncology in a research report on Monday, September 17th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Loxo Oncology presently has an average rating of “Buy” and an average price target of $189.38.

TRADEMARK VIOLATION NOTICE: “Loxo Oncology Inc (LOXO) Position Trimmed by Franklin Resources Inc.” was first posted by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was stolen and reposted in violation of US & international copyright law. The legal version of this report can be accessed at https://www.americanbankingnews.com/2018/12/08/loxo-oncology-inc-loxo-position-trimmed-by-franklin-resources-inc.html.

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.

Recommended Story: Marijuana Stocks

Want to see what other hedge funds are holding LOXO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loxo Oncology Inc (NASDAQ:LOXO).

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

Receive News & Ratings for Loxo Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loxo Oncology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply