Wells Fargo & Company MN lifted its holdings in shares of Loxo Oncology Inc (NASDAQ:LOXO) by 12.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,028 shares of the biopharmaceutical company’s stock after purchasing an additional 1,933 shares during the quarter. Wells Fargo & Company MN owned about 0.06% of Loxo Oncology worth $1,661,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in Loxo Oncology during the 3rd quarter valued at about $122,000. Ameritas Investment Partners Inc. boosted its holdings in Loxo Oncology by 31.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock valued at $141,000 after acquiring an additional 419 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Loxo Oncology by 4,388.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock valued at $180,000 after acquiring an additional 2,194 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in Loxo Oncology during the 3rd quarter valued at about $212,000. Finally, Amalgamated Bank acquired a new stake in Loxo Oncology in the 3rd quarter valued at about $268,000.
Loxo Oncology Inc (LOXO) traded up $1.47 on Friday, reaching $92.23. The company’s stock had a trading volume of 439,363 shares, compared to its average volume of 316,920. The firm has a market capitalization of $2,761.18, a price-to-earnings ratio of -15.82 and a beta of 2.57. Loxo Oncology Inc has a 52 week low of $40.01 and a 52 week high of $106.40.
In other Loxo Oncology news, Director Avi Z. Naider sold 15,000 shares of Loxo Oncology stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $100.00, for a total value of $1,500,000.00. Following the transaction, the director now directly owns 141,118 shares in the company, valued at approximately $14,111,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Orbimed Advisors Llc sold 270,000 shares of Loxo Oncology stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $74.26, for a total value of $20,050,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,628,396 shares of company stock worth $125,989,430. 44.40% of the stock is currently owned by corporate insiders.
LOXO has been the topic of a number of analyst reports. BidaskClub raised Loxo Oncology from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Zacks Investment Research raised Loxo Oncology from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. William Blair initiated coverage on Loxo Oncology in a research report on Tuesday, November 28th. They set an “outperform” rating on the stock. Ifs Securities raised Loxo Oncology from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, November 14th. Finally, JMP Securities raised Loxo Oncology from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $77.18 to $95.00 in a research report on Tuesday, November 14th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Loxo Oncology currently has an average rating of “Buy” and a consensus price target of $97.33.
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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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