Legal & General Group Plc lowered its position in Loxo Oncology Inc (NASDAQ:LOXO) by 32.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,586 shares of the biopharmaceutical company’s stock after selling 4,184 shares during the period. Legal & General Group Plc’s holdings in Loxo Oncology were worth $991,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Lord Abbett & CO. LLC boosted its stake in shares of Loxo Oncology by 20.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 666,771 shares of the biopharmaceutical company’s stock worth $76,926,000 after buying an additional 114,963 shares during the last quarter. Rock Springs Capital Management LP raised its stake in Loxo Oncology by 2.1% in the first quarter. Rock Springs Capital Management LP now owns 316,500 shares of the biopharmaceutical company’s stock worth $36,515,000 after buying an additional 6,500 shares in the last quarter. Opaleye Management Inc. raised its stake in Loxo Oncology by 1.8% in the first quarter. Opaleye Management Inc. now owns 179,400 shares of the biopharmaceutical company’s stock worth $20,697,000 after buying an additional 3,100 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Loxo Oncology by 2.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 110,975 shares of the biopharmaceutical company’s stock worth $12,804,000 after buying an additional 2,960 shares in the last quarter. Finally, Frontier Capital Management Co. LLC bought a new position in Loxo Oncology in the first quarter worth approximately $9,957,000.
Shares of Loxo Oncology stock opened at $159.30 on Friday. The stock has a market capitalization of $5.16 billion, a P/E ratio of -30.00 and a beta of 2.32. Loxo Oncology Inc has a twelve month low of $70.83 and a twelve month high of $208.95.
In other Loxo Oncology news, VP Jennifer Burstein sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $187.25, for a total value of $280,875.00. Following the completion of the transaction, the vice president now owns 1,500 shares of the company’s stock, valued at approximately $280,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Aisling Capital Iii Lp sold 1,400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 10th. The shares were sold at an average price of $179.43, for a total transaction of $251,202,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,548,678 shares of company stock valued at $277,153,641. 17.10% of the stock is owned by insiders.
A number of brokerages recently commented on LOXO. Stifel Nicolaus reduced their price objective on shares of Loxo Oncology from $225.00 to $217.00 and set a “buy” rating for the company in a research note on Friday. Cowen reissued a “buy” rating on shares of Loxo Oncology in a research report on Thursday. Zacks Investment Research raised Loxo Oncology from a “hold” rating to a “buy” rating and set a $189.00 target price on the stock in a research report on Saturday, August 4th. BidaskClub lowered shares of Loxo Oncology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 18th. Finally, Cann reaffirmed an “average” rating and issued a $202.00 price target (up from $122.00) on shares of Loxo Oncology in a report on Thursday, July 12th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Loxo Oncology has an average rating of “Buy” and a consensus price target of $188.40.
Loxo Oncology Company Profile
Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.
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