Stemline Therapeutics (NASDAQ:STML) Shares Down 8.7%

Stemline Therapeutics Inc (NASDAQ:STML)’s share price traded down 8.7% on Wednesday . The company traded as low as $13.55 and last traded at $13.71, 733,431 shares traded hands during trading. An increase of 22% from the average session volume of 601,572 shares. The stock had previously closed at $15.01.

A number of research analysts recently weighed in on the stock. Wedbush upgraded shares of Stemline Therapeutics from a “neutral” rating to an “outperform” rating in a research report on Friday, August 2nd. Cowen restated a “buy” rating on shares of Stemline Therapeutics in a research report on Sunday, August 4th. BidaskClub downgraded shares of Stemline Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Roth Capital restated a “buy” rating on shares of Stemline Therapeutics in a research report on Thursday, May 23rd. Finally, Zacks Investment Research downgraded shares of Stemline Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $23.50.

The firm has a market capitalization of $659.77 million, a PE ratio of -4.09 and a beta of 1.29. The company has a quick ratio of 4.57, a current ratio of 4.71 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $14.22 and its 200 day simple moving average is $13.70.

Stemline Therapeutics (NASDAQ:STML) last announced its earnings results on Friday, August 2nd. The biopharmaceutical company reported ($0.42) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.05. The business had revenue of $13.01 million for the quarter, compared to analysts’ expectations of $8.84 million. On average, analysts predict that Stemline Therapeutics Inc will post -1.98 EPS for the current year.

In other Stemline Therapeutics news, COO Kenneth Hoberman sold 9,107 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $15.49, for a total transaction of $141,067.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ivan Bergstein sold 56,316 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $15.08, for a total transaction of $849,245.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,370 shares of company stock valued at $2,383,666. 13.10% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in STML. Nuveen Asset Management LLC purchased a new position in shares of Stemline Therapeutics in the 2nd quarter worth approximately $1,968,000. OneAscent Financial Services LLC purchased a new position in shares of Stemline Therapeutics in the 2nd quarter worth approximately $175,000. Citadel Advisors LLC grew its position in shares of Stemline Therapeutics by 2,681.4% in the 2nd quarter. Citadel Advisors LLC now owns 357,411 shares of the biopharmaceutical company’s stock worth $5,476,000 after buying an additional 344,561 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Stemline Therapeutics by 196.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 518,870 shares of the biopharmaceutical company’s stock worth $7,949,000 after buying an additional 343,870 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Stemline Therapeutics by 14.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,933,455 shares of the biopharmaceutical company’s stock worth $29,620,000 after buying an additional 237,768 shares during the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

About Stemline Therapeutics (NASDAQ:STML)

Stemline Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, acquisition, development, and commercialization of oncology therapeutics in the United States and internationally. The company offers ELZONRIS, a targeted therapy directed to the interleukin-3 receptor (CD123) for patients with blastic plasmacytoid dendritic cell neoplasm in adults, and in pediatric patients two years and older.

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