Zacks Investment Research lowered shares of Endocyte (NASDAQ:ECYT) from a hold rating to a sell rating in a research note published on Thursday, February 15th.
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 shares of Endocyte from a hold rating to a sell rating in a research note on Tuesday, November 14th.
Shares of Endocyte (NASDAQ:ECYT) traded up $0.17 during midday trading on Thursday, hitting $3.89. 809,840 shares of the stock were exchanged, compared to its average volume of 457,526. The stock has a market cap of $173.19, a P/E ratio of -2.88 and a beta of 1.87. Endocyte has a 12-month low of $1.17 and a 12-month high of $6.55.
In other Endocyte news, VP Christopher P. Leamon sold 23,231 shares of Endocyte stock in a transaction on Friday, December 1st. The shares were sold at an average price of $5.04, for a total transaction of $117,084.24. Following the completion of the transaction, the vice president now directly owns 150,579 shares of the company’s stock, valued at $758,918.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip S. Low sold 50,511 shares of Endocyte stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $4.41, for a total transaction of $222,753.51. Following the transaction, the insider now directly owns 354,050 shares of the company’s stock, valued at $1,561,360.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,253 shares of company stock worth $562,591. 14.86% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Endocyte by 0.9% during the second quarter. FMR LLC now owns 3,540,203 shares of the biopharmaceutical company’s stock valued at $5,310,000 after purchasing an additional 31,168 shares during the period. Perceptive Advisors LLC purchased a new stake in shares of Endocyte during the fourth quarter valued at $6,213,000. BlackRock Inc. raised its holdings in shares of Endocyte by 223.7% in the fourth quarter. BlackRock Inc. now owns 1,138,791 shares of the biopharmaceutical company’s stock valued at $4,875,000 after acquiring an additional 786,933 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Endocyte by 1,064.3% in the second quarter. Goldman Sachs Group Inc. now owns 430,994 shares of the biopharmaceutical company’s stock valued at $646,000 after acquiring an additional 393,975 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Endocyte by 42.0% in the fourth quarter. Renaissance Technologies LLC now owns 293,580 shares of the biopharmaceutical company’s stock valued at $1,257,000 after acquiring an additional 86,800 shares in the last quarter. 19.45% of the stock is owned by hedge funds and other institutional investors.
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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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