Endocyte (ECYT) Stock Rating Lowered by Zacks Investment Research

Endocyte (NASDAQ:ECYT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

According to Zacks, “Endocyte has very few candidates in its pipeline with all of them in the early or mid-stages of development. With no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Endocyte’s products will face intense competition in the market from both large pharma companies and small and mid-sized companies.However, in October 2017, Endocyte accelerated its path to commercialization as it acquired the rights to PSMA-617, being evaluated for the treatment of prostate cancer. The candidate represents a more than $1 billion market opportunity and its development is now the main priority of the company. Currently, the company plans to focus on its most promising programs – lutetium PSMA-617 radioligand therapy and prostate cancer, and CAR T-cell small-molecule drug conjugates (SMDC) adaptor platform. In the last one year, shares of the company have outperformed the industry.”

Separately, ValuEngine cut Endocyte from a “sell” rating to a “strong sell” rating in a report on Thursday, December 21st.

Shares of Endocyte (NASDAQ:ECYT) opened at $3.18 on Thursday. Endocyte has a fifty-two week low of $1.17 and a fifty-two week high of $6.55.

In other Endocyte news, VP Christopher P. Leamon sold 23,231 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $5.04, for a total transaction of $117,084.24. Following the transaction, the vice president now owns 150,579 shares of the company’s stock, valued at approximately $758,918.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Philip S. Low sold 50,511 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $4.41, for a total value of $222,753.51. Following the transaction, the insider now directly owns 354,050 shares in the company, valued at approximately $1,561,360.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,253 shares of company stock worth $562,591. Corporate insiders own 14.86% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of Endocyte by 1,064.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 430,994 shares of the biopharmaceutical company’s stock worth $646,000 after purchasing an additional 393,975 shares during the period. FMR LLC lifted its stake in shares of Endocyte by 0.9% during the 2nd quarter. FMR LLC now owns 3,540,203 shares of the biopharmaceutical company’s stock worth $5,310,000 after purchasing an additional 31,168 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Endocyte by 34.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 98,313 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 25,003 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Endocyte by 42.0% during the 4th quarter. Renaissance Technologies LLC now owns 293,580 shares of the biopharmaceutical company’s stock worth $1,257,000 after purchasing an additional 86,800 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Endocyte by 46.5% during the 4th quarter. Bank of New York Mellon Corp now owns 51,313 shares of the biopharmaceutical company’s stock worth $219,000 after purchasing an additional 16,283 shares during the period. 17.42% of the stock is currently owned by institutional investors.

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About Endocyte

Endocyte Inc (Endocyte) is a biopharmaceutical company. The Company is engaged in developing therapies for the treatment of cancer and inflammatory diseases. The Company uses its technology to create small molecule drug conjugates (SMDCs) and companion imaging diagnostics. The Company’s pipeline includes Folate-Tubulysin (EC1456), the Company’s second generation SMDC, also targets the folate receptor; PSMA Tubulysin (EC1169), the Company’s non-folate SMDC, which is a tubulysin therapeutic targeting PSMA; Vintafolide (Folate DAVLBH), SMDC, vintafolide, targets the folate receptor with the anti-cancer drug payload DAVLBH; Folate-DNA alkylator (EC1788), which is a folate receptor-targeted SMDC with a potent DNA alkylator drug; Folate-Aminopterin (EC1669) is a folate receptor-targeted SMDC for the treatment in inflammatory diseases, and Folate-mTor inhibitor (EC0371), which is a folate receptor-targeted SMDC for the treatment of polycystic kidney disease(PKD).

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