Schwab Charles Investment Management Inc. Purchases 7,824 Shares of Loxo Oncology, Inc. (LOXO)

Schwab Charles Investment Management Inc. raised its position in Loxo Oncology, Inc. (NASDAQ:LOXO) by 10.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 81,716 shares of the biopharmaceutical company’s stock after buying an additional 7,824 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.31% of Loxo Oncology worth $6,553,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc increased its stake in Loxo Oncology by 8.4% in the 1st quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 284 shares during the period. Bank of America Corp DE increased its stake in Loxo Oncology by 162.6% in the 1st quarter. Bank of America Corp DE now owns 8,176 shares of the biopharmaceutical company’s stock valued at $344,000 after buying an additional 5,063 shares during the period. American International Group Inc. increased its stake in Loxo Oncology by 27.1% in the 1st quarter. American International Group Inc. now owns 9,749 shares of the biopharmaceutical company’s stock valued at $410,000 after buying an additional 2,081 shares during the period. Wells Fargo & Company MN increased its stake in Loxo Oncology by 33.3% in the 1st quarter. Wells Fargo & Company MN now owns 15,503 shares of the biopharmaceutical company’s stock valued at $653,000 after buying an additional 3,875 shares during the period. Finally, TD Asset Management Inc. acquired a new position in Loxo Oncology in the 2nd quarter valued at $779,000.

COPYRIGHT VIOLATION WARNING: “Schwab Charles Investment Management Inc. Purchases 7,824 Shares of Loxo Oncology, Inc. (LOXO)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/10/schwab-charles-investment-management-inc-purchases-7824-shares-of-loxo-oncology-inc-loxo.html.

In other news, CEO Joshua H. Bilenker sold 7,500 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $89.25, for a total transaction of $669,375.00. Following the transaction, the chief executive officer now directly owns 196,207 shares of the company’s stock, valued at $17,511,474.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Burstein sold 1,700 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $73.73, for a total value of $125,341.00. Following the transaction, the vice president now directly owns 1,700 shares in the company, valued at $125,341. The disclosure for this sale can be found here. Insiders have sold 84,896 shares of company stock worth $6,865,562 over the last three months. Corporate insiders own 27.80% of the company’s stock.

Several brokerages have issued reports on LOXO. BTIG Research reissued a “buy” rating and issued a $102.00 price objective (up from $75.00) on shares of Loxo Oncology in a research note on Friday, September 29th. Cowen and Company reissued a “buy” rating on shares of Loxo Oncology in a research note on Thursday, September 28th. Morgan Stanley reissued an “overweight” rating and issued a $103.00 price objective (up from $95.00) on shares of Loxo Oncology in a research note on Friday. JMP Securities cut shares of Loxo Oncology from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $83.12 to $17.14 in a research note on Tuesday, August 29th. They noted that the move was a valuation call. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $94.00 price objective (up from $71.00) on shares of Loxo Oncology in a research note on Thursday, August 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $76.31.

Loxo Oncology, Inc. (LOXO) opened at 94.01 on Tuesday. Loxo Oncology, Inc. has a 52 week low of $17.14 and a 52 week high of $95.92. The firm’s market capitalization is $2.81 billion. The firm has a 50-day moving average of $83.54 and a 200 day moving average of $66.59.

Loxo

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc increased its stake in Loxo Oncology by 8.4% in the 1st quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 284 shares during the period. Bank of America Corp DE increased its stake in Loxo Oncology by 162.6% in the 1st quarter. Bank of America Corp DE now owns 8,176 shares of the biopharmaceutical company’s stock valued at $344,000 after buying an additional 5,063 shares during the period. American International Group Inc. increased its stake in Loxo Oncology by 27.1% in the 1st quarter. American International Group Inc. now owns 9,749 shares of the biopharmaceutical company’s stock valued at $410,000 after buying an additional 2,081 shares during the period. Wells Fargo & Company MN increased its stake in Loxo Oncology by 33.3% in the 1st quarter. Wells Fargo & Company MN now owns 15,503 shares of the biopharmaceutical company’s stock valued at $653,000 after buying an additional 3,875 shares during the period. Finally, TD Asset Management Inc. acquired a new position in Loxo Oncology in the 2nd quarter valued at $779,000.

COPYRIGHT VIOLATION WARNING: “Schwab Charles Investment Management Inc. Purchases 7,824 Shares of Loxo Oncology, Inc. (LOXO)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/10/schwab-charles-investment-management-inc-purchases-7824-shares-of-loxo-oncology-inc-loxo.html.

In other news, CEO Joshua H. Bilenker sold 7,500 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $89.25, for a total transaction of $669,375.00. Following the transaction, the chief executive officer now directly owns 196,207 shares of the company’s stock, valued at $17,511,474.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Burstein sold 1,700 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $73.73, for a total value of $125,341.00. Following the transaction, the vice president now directly owns 1,700 shares in the company, valued at $125,341. The disclosure for this sale can be found here. Insiders have sold 84,896 shares of company stock worth $6,865,562 over the last three months. Corporate insiders own 27.80% of the company’s stock.

Several brokerages have issued reports on LOXO. BTIG Research reissued a “buy” rating and issued a $102.00 price objective (up from $75.00) on shares of Loxo Oncology in a research note on Friday, September 29th. Cowen and Company reissued a “buy” rating on shares of Loxo Oncology in a research note on Thursday, September 28th. Morgan Stanley reissued an “overweight” rating and issued a $103.00 price objective (up from $95.00) on shares of Loxo Oncology in a research note on Friday. JMP Securities cut shares of Loxo Oncology from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $83.12 to $17.14 in a research note on Tuesday, August 29th. They noted that the move was a valuation call. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $94.00 price objective (up from $71.00) on shares of Loxo Oncology in a research note on Thursday, August 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $76.31.

Loxo Oncology, Inc. (LOXO) opened at 94.01 on Tuesday. Loxo Oncology, Inc. has a 52 week low of $17.14 and a 52 week high of $95.92. The firm’s market capitalization is $2.81 billion. The firm has a 50-day moving average of $83.54 and a 200 day moving average of $66.59.

Loxo Oncology (NASDAQ:LOXO) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.15). During the same quarter in the prior year, the business earned ($0.77) earnings per share. Analysts predict that Loxo Oncology, Inc. will post ($4.49) earnings per share for the current year.

About Loxo Oncology

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.

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

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