Loxo Oncology Inc (LOXO) Position Trimmed by Suffolk Capital Management LLC
Suffolk Capital Management LLC reduced its position in Loxo Oncology Inc (NASDAQ:LOXO) by 10.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,399 shares of the biopharmaceutical company’s stock after selling 5,053 shares during the period. Suffolk Capital Management LLC’s holdings in Loxo Oncology were worth $7,072,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Mercantile Trust Co. purchased a new position in Loxo Oncology in the 2nd quarter worth approximately $122,000. Douglass Winthrop Advisors LLC purchased a new stake in Loxo Oncology during the 2nd quarter valued at $204,000. Zeke Capital Advisors LLC purchased a new stake in Loxo Oncology during the 2nd quarter valued at $208,000. Commonwealth Equity Services LLC purchased a new stake in Loxo Oncology during the 2nd quarter valued at $209,000. Finally, Meeder Asset Management Inc. purchased a new stake in Loxo Oncology during the 2nd quarter valued at $211,000. Institutional investors own 95.58% of the company’s stock.
In other news, VP Jennifer Burstein sold 2,500 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $166.96, for a total transaction of $417,400.00. Following the completion of the sale, the vice president now owns 1,250 shares of the company’s stock, valued at approximately $208,700. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Naarden Jacob Van sold 10,000 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $166.32, for a total transaction of $1,663,200.00. Following the sale, the insider now directly owns 19,200 shares of the company’s stock, valued at approximately $3,193,344. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,000 shares of company stock valued at $11,618,850. Insiders own 17.10% of the company’s stock.
Loxo Oncology (NASDAQ:LOXO) last issued its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.24). Loxo Oncology had a negative net margin of 43.49% and a negative return on equity of 16.42%. The business had revenue of $42.47 million for the quarter, compared to the consensus estimate of $38.55 million. During the same period in the previous year, the firm earned ($2.45) EPS. On average, sell-side analysts forecast that Loxo Oncology Inc will post -2.34 earnings per share for the current year.
A number of brokerages have weighed in on LOXO. Citigroup decreased their target price on shares of Loxo Oncology from $233.00 to $213.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Zacks Investment Research upgraded shares of Loxo Oncology from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Raymond James began coverage on shares of Loxo Oncology in a research note on Wednesday, November 14th. They set a “strong-buy” rating and a $235.00 target price for the company. JMP Securities decreased their target price on shares of Loxo Oncology from $221.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 13th. Finally, Piper Jaffray Companies set a $200.00 target price on shares of Loxo Oncology and gave the company a “buy” rating in a research note on Monday, October 22nd. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Loxo Oncology has a consensus rating of “Buy” and a consensus price target of $190.31.
Loxo Oncology Profile
Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.
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