Nationwide Fund Advisors lowered its position in Tesaro Inc. (NASDAQ:TSRO) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,235 shares of the biopharmaceutical company’s stock after selling 1,949 shares during the period. Nationwide Fund Advisors’ holdings in Tesaro were worth $2,037,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Tesaro by 13.3% in the first quarter. BlackRock Inc. now owns 7,096 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 834 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Tesaro by 7.4% in the first quarter. Nuveen Asset Management LLC now owns 20,598 shares of the biopharmaceutical company’s stock valued at $907,000 after buying an additional 1,412 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Tesaro by 4.3% in the second quarter. California State Teachers Retirement System now owns 51,584 shares of the biopharmaceutical company’s stock valued at $4,336,000 after buying an additional 2,121 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Tesaro during the second quarter valued at $240,000. Finally, Neuberger Berman Group LLC bought a new stake in shares of Tesaro during the second quarter valued at $256,000. Institutional investors and hedge funds own 88.81% of the company’s stock.
Tesaro Inc. (NASDAQ:TSRO) traded up 0.946% on Thursday, hitting $115.856. The stock had a trading volume of 330,586 shares. Tesaro Inc. has a one year low of $29.51 and a one year high of $122.89. The stock has a 50-day moving average of $98.16 and a 200-day moving average of $70.43. The company’s market cap is $5.95 billion.
Tesaro (NASDAQ:TSRO) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.71) by $0.43. Tesaro had a negative return on equity of 205.63% and a negative net margin of 783.97%. The business earned $36.60 million during the quarter, compared to the consensus estimate of $4.98 million. During the same period in the previous year, the business earned ($1.51) EPS. Equities analysts expect that Tesaro Inc. will post ($7.36) earnings per share for the current fiscal year.
Several brokerages recently weighed in on TSRO. RBC Capital Markets reaffirmed an “outperform” rating and set a $122.00 price target on shares of Tesaro in a report on Wednesday, August 24th. Leerink Swann increased their price target on Tesaro from $65.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, June 30th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $122.00 price target (up from $90.00) on shares of Tesaro in a report on Monday. Wedbush reaffirmed a “buy” rating on shares of Tesaro in a report on Friday, August 5th. Finally, Zacks Investment Research downgraded Tesaro from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $110.11.
In other news, VP Edward C. English sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $88.54, for a total value of $619,780.00. Following the completion of the sale, the vice president now directly owns 3,500 shares in the company, valued at approximately $309,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey H. Hanke sold 29,166 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $86.04, for a total value of $2,509,442.64. Following the completion of the sale, the vice president now owns 29,166 shares of the company’s stock, valued at $2,509,442.64. The disclosure for this sale can be found here. 40.50% of the stock is owned by insiders.
TESARO, Inc is an oncology-focused biopharmaceutical company. The Company acquires, in-licenses and develops oncology product candidates. It operates in business of developing and commercializing oncology-focused therapeutics segment. It has in-licensed and are developing oncology-related product candidates, including intravenous (IV) rolapitant and niraparib, as well as product candidates under its immuno-oncology platform.
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