State Board of Administration of Florida Retirement System purchased a new stake in Endocyte, Inc. (NASDAQ:ECYT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 22,680 shares of the biopharmaceutical company’s stock, valued at approximately $313,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. venBio Select Advisor LLC bought a new stake in Endocyte in the first quarter valued at $51,769,000. VHCP Management II LLC acquired a new position in shares of Endocyte during the first quarter valued at about $39,087,000. BlackRock Inc. grew its holdings in shares of Endocyte by 50.2% during the first quarter. BlackRock Inc. now owns 1,710,716 shares of the biopharmaceutical company’s stock valued at $15,551,000 after buying an additional 571,925 shares during the last quarter. Rock Springs Capital Management LP acquired a new position in shares of Endocyte during the first quarter valued at about $6,136,000. Finally, Eventide Asset Management LLC acquired a new position in shares of Endocyte during the first quarter valued at about $3,182,000. 75.61% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Christopher P. Leamon sold 13,089 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $15.06, for a total transaction of $197,120.34. Following the transaction, the vice president now directly owns 130,381 shares in the company, valued at $1,963,537.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Beth Taylor sold 7,892 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $20.00, for a total transaction of $157,840.00. Following the transaction, the vice president now owns 63,363 shares in the company, valued at $1,267,260. The disclosure for this sale can be found here. Insiders have sold 22,680 shares of company stock valued at $382,743 over the last quarter. Corporate insiders own 14.86% of the company’s stock.
ECYT has been the subject of a number of analyst reports. Wedbush lifted their price objective on shares of Endocyte from $15.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, July 16th. BidaskClub upgraded shares of Endocyte from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 21st. Jefferies Financial Group reiterated a “buy” rating and set a $21.00 price objective on shares of Endocyte in a report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Endocyte from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, July 10th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Endocyte currently has an average rating of “Buy” and a consensus price target of $20.00.
Shares of NASDAQ ECYT opened at $17.59 on Friday. Endocyte, Inc. has a 1 year low of $1.35 and a 1 year high of $20.85.
Endocyte (NASDAQ:ECYT) last issued its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). The firm had revenue of $0.01 million during the quarter. Endocyte had a negative net margin of 69,330.66% and a negative return on equity of 30.87%. sell-side analysts expect that Endocyte, Inc. will post -0.67 earnings per share for the current fiscal year.
Endocyte, Inc, a biopharmaceutical company, develops targeted therapies for the treatment of cancer and inflammatory diseases in the United States. The company uses its technology to create novel small molecule drug conjugates (SMDCs) and companion imaging agents. It is developing Vintafolide, a SMDC that is in Phase IIb clinical trial to treat non-small cell lung cancer; EC1456, which is in Phase I dose escalation trial for the treatment of advanced solid tumors; and EC1169, a tubulysin therapeutic that is in Phase I dose escalation trial to treat advanced metastatic castration-resistant prostate cancer.
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