Stock Traders Buy High Volume of Call Options on Loxo Oncology (NASDAQ:LOXO)

Loxo Oncology, Inc. (NASDAQ:LOXO) was the target of some unusual options trading on Wednesday. Stock traders acquired 2,981 call options on the stock. This is an increase of Infinity compared to the average volume of 0 call options.

In other news, CEO Joshua H. Bilenker sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $89.02, for a total transaction of $1,335,300.00. Following the completion of the transaction, the chief executive officer now directly owns 196,207 shares in the company, valued at $17,466,347.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Aisling Capital Iii Lp sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $75.00, for a total value of $37,500,000.00. The disclosure for this sale can be found here. Insiders sold 1,123,596 shares of company stock worth $84,872,356 over the last ninety days. 27.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP bought a new stake in shares of Loxo Oncology in the third quarter valued at $122,000. Ameritas Investment Partners Inc. raised its stake in shares of Loxo Oncology by 31.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 419 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Loxo Oncology by 4,388.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock valued at $180,000 after purchasing an additional 2,194 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Loxo Oncology in the 3rd quarter worth about $212,000. Finally, SG Americas Securities LLC bought a new position in Loxo Oncology in the 2nd quarter worth about $228,000.

Loxo Oncology (NASDAQ:LOXO) traded up $0.96 during mid-day trading on Tuesday, reaching $77.71. The company’s stock had a trading volume of 413,587 shares, compared to its average volume of 371,082. Loxo Oncology has a twelve month low of $25.25 and a twelve month high of $95.92.

A number of brokerages have weighed in on LOXO. BTIG Research reiterated a “buy” rating and issued a $102.00 target price (up from $75.00) on shares of Loxo Oncology in a report on Friday, September 29th. Cowen reissued a “buy” rating on shares of Loxo Oncology in a research note on Thursday, September 28th. Morgan Stanley reissued an “overweight” rating and issued a $103.00 price objective (up previously from $95.00) on shares of Loxo Oncology in a research note on Friday, October 6th. Citigroup reissued a “buy” rating and issued a $112.00 price objective (up previously from $86.00) on shares of Loxo Oncology in a research note on Friday, October 20th. Finally, JMP Securities raised Loxo Oncology from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $77.18 to $95.00 in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Loxo Oncology currently has a consensus rating of “Buy” and an average price target of $90.57.

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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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