Driehaus Capital Management LLC lifted its position in shares of Loxo Oncology Inc (NASDAQ:LOXO) by 40.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 574,495 shares of the biopharmaceutical company’s stock after acquiring an additional 164,959 shares during the period. Loxo Oncology accounts for 1.8% of Driehaus Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Driehaus Capital Management LLC owned about 1.92% of Loxo Oncology worth $48,361,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its holdings in Loxo Oncology by 2.9% in the 3rd quarter. New York State Common Retirement Fund now owns 25,097 shares of the biopharmaceutical company’s stock valued at $2,312,000 after acquiring an additional 700 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Loxo Oncology by 3.1% in the 3rd quarter. California State Teachers Retirement System now owns 36,594 shares of the biopharmaceutical company’s stock valued at $3,371,000 after purchasing an additional 1,094 shares during the period. Quantbot Technologies LP acquired a new position in shares of Loxo Oncology in the 3rd quarter valued at about $122,000. State Board of Administration of Florida Retirement System increased its holdings in Loxo Oncology by 16.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 9,760 shares of the biopharmaceutical company’s stock worth $899,000 after buying an additional 1,400 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Loxo Oncology by 12.0% in the third quarter. Wells Fargo & Company MN now owns 18,028 shares of the biopharmaceutical company’s stock worth $1,661,000 after buying an additional 1,933 shares during the last quarter.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Loxo Oncology from a “hold” rating to a “buy” rating and set a $148.00 target price for the company in a research report on Friday, March 9th. Citigroup reissued a “buy” rating and issued a $151.00 price objective (up from $108.00) on shares of Loxo Oncology in a research report on Monday, March 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $135.00 target price on shares of Loxo Oncology in a research report on Friday, March 2nd. Cann reaffirmed a “buy” rating and issued a $122.00 target price on shares of Loxo Oncology in a research report on Thursday, March 1st. Finally, BidaskClub upgraded Loxo Oncology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 24th. Eleven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $124.44.
Loxo Oncology Inc (NASDAQ LOXO) traded down $1.34 during trading hours on Wednesday, hitting $131.53. The stock had a trading volume of 330,944 shares, compared to its average volume of 368,687. Loxo Oncology Inc has a fifty-two week low of $40.52 and a fifty-two week high of $135.74. The company has a market cap of $3,874.41, a PE ratio of -25.30 and a beta of 2.37.
Loxo Oncology (NASDAQ:LOXO) last announced its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.69) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.22) by $0.53. The firm had revenue of $21.30 million during the quarter. sell-side analysts expect that Loxo Oncology Inc will post 3.81 EPS for the current year.
In related news, insider Naarden Jacob Van sold 3,082 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $96.34, for a total value of $296,919.88. Following the completion of the sale, the insider now directly owns 1,541 shares in the company, valued at approximately $148,459.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jennifer Burstein sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $87.50, for a total value of $131,250.00. Following the sale, the vice president now owns 1,500 shares of the company’s stock, valued at $131,250. The disclosure for this sale can be found here. Insiders have sold a total of 334,146 shares of company stock worth $27,668,728 in the last ninety days. Insiders own 27.80% of the company’s stock.
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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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