Insider Selling: Loxo Oncology, Inc. (LOXO) CEO Sells $669,375.00 in Stock
Loxo Oncology, Inc. (NASDAQ:LOXO) CEO Joshua H. Bilenker sold 7,500 shares of Loxo Oncology stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $89.25, for a total value of $669,375.00. Following the sale, the chief executive officer now directly owns 196,207 shares of the company’s stock, valued at $17,511,474.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Loxo Oncology, Inc. (NASDAQ:LOXO) opened at 86.81 on Friday. Loxo Oncology, Inc. has a one year low of $17.14 and a one year high of $91.32. The firm has a 50-day moving average price of $77.03 and a 200 day moving average price of $61.97. The firm’s market capitalization is $2.59 billion.
Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.99) by ($0.15). During the same period in the previous year, the company earned ($0.77) earnings per share. Analysts anticipate that Loxo Oncology, Inc. will post ($4.54) EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its holdings in shares of Loxo Oncology by 31.3% in the second quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 419 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Loxo Oncology by 4,388.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock worth $180,000 after acquiring an additional 2,194 shares during the period. SG Americas Securities LLC bought a new position in shares of Loxo Oncology in the second quarter worth $228,000. Marshall Wace LLP bought a new position in shares of Loxo Oncology in the second quarter worth $233,000. Finally, Jasper Ridge Partners L.P. bought a new position in shares of Loxo Oncology in the second quarter worth $277,000.
Several research firms recently weighed in on LOXO. JMP Securities cut Loxo Oncology from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $83.12 to $17.14 in a report on Tuesday, August 29th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and set a $94.00 price target (up from $71.00) on shares of Loxo Oncology in a report on Thursday, August 10th. BidaskClub cut Loxo Oncology from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Zacks Investment Research cut Loxo Oncology from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Ifs Securities reissued an “outperform” rating on shares of Loxo Oncology in a report on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $70.73.
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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