Shares of Endocyte, Inc. (NASDAQ:ECYT) traded down 5.5% during mid-day trading on Friday . The stock traded as low as $1.17 and last traded at $1.21, with a volume of 1,416,773 shares changing hands. The stock had previously closed at $1.28.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Endocyte from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Wedbush downgraded shares of Endocyte from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $8.00 to $2.00 in a research report on Monday, June 5th. ValuEngine downgraded shares of Endocyte from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 3rd. Finally, Cowen and Company downgraded shares of Endocyte from an “outperform” rating to a “market perform” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $3.58.

The stock’s 50 day moving average is $1.42 and its 200 day moving average is $2.01. The stock’s market capitalization is $51.52 million.

Endocyte (NASDAQ:ECYT) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.03. The business had revenue of $0.01 million during the quarter. Endocyte had a negative return on equity of 32.68% and a negative net margin of 61,437.14%. During the same quarter in the prior year, the company posted ($0.25) earnings per share. On average, analysts forecast that Endocyte, Inc. will post ($0.93) EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in ECYT. Algert Global LLC purchased a new stake in Endocyte during the first quarter worth about $345,000. Teachers Advisors LLC boosted its stake in Endocyte by 17.1% in the fourth quarter. Teachers Advisors LLC now owns 65,119 shares of the biopharmaceutical company’s stock worth $166,000 after buying an additional 9,506 shares in the last quarter. Stoneridge Investment Partners LLC boosted its stake in Endocyte by 40.0% in the first quarter. Stoneridge Investment Partners LLC now owns 57,406 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 16,399 shares in the last quarter. RMB Capital Management LLC boosted its stake in Endocyte by 8.8% in the first quarter. RMB Capital Management LLC now owns 264,885 shares of the biopharmaceutical company’s stock worth $681,000 after buying an additional 21,500 shares in the last quarter. Finally, State Street Corp boosted its stake in Endocyte by 2.7% in the fourth quarter. State Street Corp now owns 620,248 shares of the biopharmaceutical company’s stock worth $1,582,000 after buying an additional 16,289 shares in the last quarter. Institutional investors and hedge funds own 32.67% of the company’s stock.

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About Endocyte

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