Endocyte, Inc. (NASDAQ:ECYT)’s share price shot up 12.3% during mid-day trading on Tuesday . The stock traded as high as $3.67 and last traded at $3.57. 1,585,340 shares changed hands during trading, an increase of 270% from the average session volume of 428,381 shares. The stock had previously closed at $3.18.
Several research firms have issued reports on ECYT. Zacks Investment Research upgraded Endocyte from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. ValuEngine cut Endocyte from a “sell” rating to a “strong sell” rating in a report on Thursday, December 21st.
In related news, insider Philip S. Low sold 50,511 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $4.41, for a total value of $222,753.51. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher P. Leamon sold 23,231 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $5.04, for a total value of $117,084.24. Following the completion of the sale, the vice president now owns 150,579 shares in the company, valued at approximately $758,918.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,253 shares of company stock worth $562,591. Insiders own 14.86% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ECYT. AXA acquired a new stake in shares of Endocyte in the 4th quarter worth approximately $101,000. Dimensional Fund Advisors LP grew its holdings in shares of Endocyte by 34.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 98,313 shares of the biopharmaceutical company’s stock worth $147,000 after acquiring an additional 25,003 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Endocyte by 46.5% in the 4th quarter. Bank of New York Mellon Corp now owns 51,313 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 16,283 shares during the period. EAM Investors LLC acquired a new stake in shares of Endocyte in the 4th quarter worth approximately $420,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Endocyte by 1,064.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 430,994 shares of the biopharmaceutical company’s stock worth $646,000 after acquiring an additional 393,975 shares during the period. Institutional investors and hedge funds own 19.45% of the company’s stock.
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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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