Peregrine Asset Advisers Inc. Buys New Holdings in Loxo Oncology, Inc. (LOXO)
Peregrine Asset Advisers Inc. bought a new position in shares of Loxo Oncology, Inc. (NASDAQ:LOXO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 56,870 shares of the biopharmaceutical company’s stock, valued at approximately $4,560,000. Loxo Oncology makes up approximately 2.9% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 10th largest holding. Peregrine Asset Advisers Inc. owned 0.22% of Loxo Oncology at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in LOXO. Legal & General Group Plc raised its holdings in Loxo Oncology by 8.4% during the first quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 284 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Loxo Oncology by 4,388.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 2,194 shares in the last quarter. SG Americas Securities LLC bought a new stake in Loxo Oncology during the second quarter worth approximately $228,000. Marshall Wace LLP bought a new stake in Loxo Oncology during the second quarter worth approximately $233,000. Finally, Jasper Ridge Partners L.P. bought a new stake in Loxo Oncology during the second quarter worth approximately $277,000.
Loxo Oncology, Inc. (NASDAQ:LOXO) traded down 2.02% on Tuesday, hitting $74.80. The company’s stock had a trading volume of 170,188 shares. The company has a 50 day moving average price of $74.85 and a 200-day moving average price of $60.08. The company’s market capitalization is $2.23 billion. Loxo Oncology, Inc. has a 1-year low of $17.14 and a 1-year high of $84.46.
Loxo Oncology (NASDAQ:LOXO) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.99) by ($0.15). During the same period in the prior year, the business posted ($0.77) EPS. On average, equities analysts forecast that Loxo Oncology, Inc. will post ($4.54) earnings per share for the current fiscal year.
In other Loxo Oncology news, CEO Joshua H. Bilenker sold 15,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $73.56, for a total value of $1,103,400.00. Following the sale, the chief executive officer now directly owns 196,207 shares in the company, valued at $14,432,986.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith T. Flaherty sold 7,250 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $72.26, for a total transaction of $523,885.00. Following the completion of the sale, the director now owns 20,432 shares in the company, valued at $1,476,416.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,073 shares of company stock worth $3,397,662. Company insiders own 27.80% of the company’s stock.
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Several research analysts have issued reports on LOXO shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $94.00 price target (up previously from $71.00) on shares of Loxo Oncology in a report on Thursday, August 10th. Zacks Investment Research raised Loxo Oncology from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Wednesday, August 9th. Citigroup Inc. raised Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Monday, June 5th. BTIG Research reaffirmed a “buy” rating and issued a $75.00 price target on shares of Loxo Oncology in a report on Tuesday, June 6th. Finally, BidaskClub cut Loxo Oncology from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $70.73.
Loxo Oncology Profile
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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