Cascadian Therapeutics Sees Unusually High Options Volume (NASDAQ:CASC)

Cascadian Therapeutics Inc (NASDAQ:CASC) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 455 put options on the stock. This represents an increase of approximately 792% compared to the average daily volume of 51 put options.

Cascadian Therapeutics (NASDAQ CASC) opened at $9.99 on Friday. Cascadian Therapeutics has a 12-month low of $3.18 and a 12-month high of $10.21.

Cascadian Therapeutics (NASDAQ:CASC) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.01. During the same quarter in the previous year, the company posted ($0.09) EPS. equities analysts predict that Cascadian Therapeutics will post -1.27 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. OxFORD Asset Management LLP raised its position in Cascadian Therapeutics by 11.8% during the 2nd quarter. OxFORD Asset Management LLP now owns 181,323 shares of the biopharmaceutical company’s stock worth $674,000 after buying an additional 19,131 shares during the last quarter. SG Americas Securities LLC raised its position in Cascadian Therapeutics by 194.7% during the 4th quarter. SG Americas Securities LLC now owns 38,541 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 25,464 shares during the last quarter. New York State Common Retirement Fund purchased a new position in Cascadian Therapeutics during the 2nd quarter worth $136,000. Rhumbline Advisers purchased a new position in Cascadian Therapeutics during the 2nd quarter worth $143,000. Finally, Alps Advisors Inc. purchased a new position in Cascadian Therapeutics during the 4th quarter worth $207,000. Institutional investors own 80.35% of the company’s stock.

Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Cascadian Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 31st. ValuEngine upgraded shares of Cascadian Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 31st. Raymond James Financial cut shares of Cascadian Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research cut shares of Cascadian Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.63.

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About Cascadian Therapeutics

Cascadian Therapeutics, Inc, formerly Oncothyreon Inc, is a clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutic products for the treatment of cancer. The Company’s clinical-stage product candidate includes ONT-380, an orally active and selective small-molecule human epidermal growth factor receptor (HER) 2 inhibitor.

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