Geode Capital Management LLC Raises Position in Epizyme, Inc. (EPZM)
Geode Capital Management LLC boosted its position in shares of Epizyme, Inc. (NASDAQ:EPZM) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 337,747 shares of the biopharmaceutical company’s stock after buying an additional 15,299 shares during the period. Geode Capital Management LLC’s holdings in Epizyme were worth $5,792,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. Legal & General Group Plc raised its stake in shares of Epizyme by 8.9% in the first quarter. Legal & General Group Plc now owns 9,684 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 795 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Epizyme during the first quarter worth about $175,000. Russell Investments Group Ltd. purchased a new stake in shares of Epizyme during the fourth quarter worth about $351,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Epizyme by 11.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 30,680 shares of the biopharmaceutical company’s stock worth $371,000 after buying an additional 3,269 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of Epizyme by 7.1% in the first quarter. American International Group Inc. now owns 24,779 shares of the biopharmaceutical company’s stock worth $425,000 after buying an additional 1,638 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.
Epizyme, Inc. (NASDAQ EPZM) opened at 13.1698 on Thursday. The company has a 50-day moving average of $13.87 and a 200-day moving average of $14.37. The company’s market cap is $769.99 million. Epizyme, Inc. has a 52 week low of $7.02 and a 52 week high of $18.50.
Epizyme (NASDAQ:EPZM) last issued its quarterly earnings results on Friday, August 4th. The biopharmaceutical company reported ($0.48) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.08. Epizyme had a negative net margin of 1,376.33% and a negative return on equity of 63.10%. The company had revenue of $10 million during the quarter, compared to analysts’ expectations of $3.95 million. During the same quarter last year, the company posted ($0.49) EPS. The firm’s revenue was up 2027.7% compared to the same quarter last year. On average, equities research analysts predict that Epizyme, Inc. will post ($2.43) EPS for the current year.
A number of analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of Epizyme in a report on Wednesday, June 7th. BidaskClub lowered Epizyme from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Royal Bank Of Canada set a $20.00 price target on Epizyme and gave the company a “buy” rating in a report on Monday, June 12th. Zacks Investment Research upgraded Epizyme from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday, May 16th. Finally, Cann reiterated an “outperform” rating and issued a $26.00 price target on shares of Epizyme in a report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $23.38.
In other Epizyme news, insider Robert A. Copeland sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $13.45, for a total value of $33,625.00. Following the completion of the transaction, the insider now owns 34,038 shares of the company’s stock, valued at approximately $457,811.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Tai-Ching Ho sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $16.11, for a total transaction of $241,650.00. Following the completion of the transaction, the insider now directly owns 22,228 shares of the company’s stock, valued at approximately $358,093.08. The disclosure for this sale can be found here. Insiders sold a total of 50,524 shares of company stock valued at $746,797 in the last three months. 25.20% of the stock is currently owned by corporate insiders.
Epizyme Company Profile
Epizyme, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and plans to commercialize epigenetic therapies for cancer patients. The Company is engaged in the discovery and development of novel epigenetic therapies for cancer patients. The Company develops small molecule inhibitors of a class of enzymes known as histone methyltransferases (HMTs).
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