Stock Traders Buy High Volume of Put Options on Loxo Oncology (LOXO)

Loxo Oncology, Inc. (NASDAQ:LOXO) was the recipient of some unusual options trading on Tuesday. Investors purchased 1,428 put options on the company. This is an increase of Infinity compared to the typical daily volume of 0 put options.

Shares of Loxo Oncology (NASDAQ LOXO) opened at $74.91 on Friday. Loxo Oncology has a 1 year low of $25.25 and a 1 year high of $95.92.

In other news, insider Naarden Jacob Van sold 3,082 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $89.00, for a total transaction of $274,298.00. Following the transaction, the insider now directly owns 1,541 shares of the company’s stock, valued at $137,149. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Keith T. Flaherty sold 7,250 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $72.26, for a total value of $523,885.00. Following the transaction, the director now directly owns 20,432 shares in the company, valued at $1,476,416.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,814 shares of company stock worth $6,548,261. Corporate insiders own 44.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in Loxo Oncology by 12.1% during the second quarter. FMR LLC now owns 4,394,827 shares of the biopharmaceutical company’s stock valued at $352,420,000 after acquiring an additional 472,814 shares during the last quarter. BlackRock Inc. increased its position in Loxo Oncology by 20.6% in the second quarter. BlackRock Inc. now owns 1,602,885 shares of the biopharmaceutical company’s stock worth $128,534,000 after buying an additional 273,291 shares in the last quarter. Alliancebernstein L.P. increased its position in Loxo Oncology by 50.2% in the second quarter. Alliancebernstein L.P. now owns 936,790 shares of the biopharmaceutical company’s stock worth $75,121,000 after buying an additional 312,988 shares in the last quarter. Vanguard Group Inc. increased its position in Loxo Oncology by 24.7% in the second quarter. Vanguard Group Inc. now owns 914,719 shares of the biopharmaceutical company’s stock worth $73,351,000 after buying an additional 181,471 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Loxo Oncology by 372.0% in the second quarter. Lord Abbett & CO. LLC now owns 739,540 shares of the biopharmaceutical company’s stock worth $59,304,000 after buying an additional 582,862 shares in the last quarter. Institutional investors own 99.31% of the company’s stock.

A number of brokerages have recently issued reports on LOXO. BidaskClub raised Loxo Oncology from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research raised Loxo Oncology from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $94.00 price target (up from $71.00) on shares of Loxo Oncology in a report on Thursday, August 10th. Citigroup Inc. reduced their price objective on Loxo Oncology from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday. Finally, BTIG Research reiterated a “buy” rating and set a $75.00 price objective on shares of Loxo Oncology in a research report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Loxo Oncology currently has a consensus rating of “Buy” and a consensus target price of $90.57.

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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.

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