Endocyte, Inc. (NASDAQ:ECYT)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $23.54 and last traded at $23.46, with a volume of 2282922 shares changing hands. The stock had previously closed at $15.56.
A number of brokerages have issued reports on ECYT. Wedbush lowered Endocyte from an “outperform” rating to a “neutral” rating in a research report on Thursday. BidaskClub lowered Endocyte from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $21.00 target price on shares of Endocyte in a research report on Thursday, August 2nd. Zacks Investment Research raised Endocyte from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Tuesday, July 10th. Finally, Cowen reaffirmed a “buy” rating on shares of Endocyte in a research report on Monday, September 10th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $20.00.
The stock has a market cap of $1.25 billion, a PE ratio of -23.46 and a beta of 0.31.
Endocyte (NASDAQ:ECYT) last posted its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). The business had revenue of $0.01 million for the quarter. Endocyte had a negative return on equity of 30.87% and a negative net margin of 69,330.66%. As a group, analysts expect that Endocyte, Inc. will post -0.67 EPS for the current fiscal year.
In related news, VP Beth Taylor sold 7,892 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $20.00, for a total transaction of $157,840.00. Following the sale, the vice president now directly owns 63,363 shares of the company’s stock, valued at approximately $1,267,260. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Philip S. Low sold 5,928 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $15.56, for a total value of $92,239.68. Following the sale, the insider now directly owns 325,745 shares in the company, valued at $5,068,592.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,354 shares of company stock worth $1,099,637. Corporate insiders own 10.65% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Birchview Capital LP acquired a new stake in Endocyte in the second quarter worth $138,000. Sigma Planning Corp acquired a new stake in Endocyte in the second quarter worth $147,000. Legal & General Group Plc acquired a new stake in Endocyte in the second quarter worth $149,000. BlueMountain Capital Management LLC acquired a new stake in Endocyte in the second quarter worth $153,000. Finally, Teacher Retirement System of Texas acquired a new stake in Endocyte in the second quarter worth $155,000. 75.30% of the stock is currently owned by hedge funds and other institutional investors.
Endocyte Company Profile (NASDAQ:ECYT)
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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