Loxo Oncology, Inc. (NASDAQ:LOXO) Director Orbimed Advisors Llc sold 270,000 shares of Loxo Oncology stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $74.26, for a total transaction of $20,050,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Loxo Oncology, Inc. (NASDAQ:LOXO) traded up $2.33 during trading on Monday, hitting $77.40. 387,565 shares of the company were exchanged, compared to its average volume of 370,873. Loxo Oncology, Inc. has a fifty-two week low of $25.25 and a fifty-two week high of $95.92.
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Institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC grew its holdings in Loxo Oncology by 372.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 739,540 shares of the biopharmaceutical company’s stock worth $59,304,000 after acquiring an additional 582,862 shares during the period. FMR LLC grew its holdings in Loxo Oncology by 12.1% during the 2nd quarter. FMR LLC now owns 4,394,827 shares of the biopharmaceutical company’s stock worth $352,420,000 after acquiring an additional 472,814 shares during the period. Marshall Wace North America L.P. acquired a new stake in Loxo Oncology during the 2nd quarter worth $33,347,000. State Street Corp grew its holdings in Loxo Oncology by 155.2% during the 1st quarter. State Street Corp now owns 547,017 shares of the biopharmaceutical company’s stock worth $23,019,000 after acquiring an additional 332,696 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Loxo Oncology by 50.2% during the 2nd quarter. Alliancebernstein L.P. now owns 936,790 shares of the biopharmaceutical company’s stock worth $75,121,000 after acquiring an additional 312,988 shares during the period.
A number of research firms have recently issued reports on LOXO. Citigroup Inc. cut their target price on shares of Loxo Oncology from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday. JMP Securities raised shares of Loxo Oncology from a “market perform” rating to an “outperform” rating and raised their price target for the company from $77.18 to $95.00 in a report on Tuesday, November 14th. Ifs Securities raised shares of Loxo Oncology from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, November 14th. Morgan Stanley reissued an “overweight” rating and issued a $103.00 price target (up previously from $95.00) on shares of Loxo Oncology in a report on Friday, October 6th. Finally, BTIG Research reissued a “buy” rating and issued a $102.00 price target (up previously from $75.00) on shares of Loxo Oncology in a report on Friday, September 29th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $90.57.
Loxo Oncology Company 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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