Endocyte, Inc. (NASDAQ:ECYT) shares gapped up prior to trading on Friday . The stock had previously closed at $7.05, but opened at $8.06. Endocyte shares last traded at $8.20, with a volume of 12283584 shares.
A number of research analysts have recently issued reports on ECYT shares. Cowen upgraded shares of Endocyte from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 27th. Zacks Investment Research downgraded shares of Endocyte from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. ValuEngine upgraded shares of Endocyte from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. BidaskClub upgraded shares of Endocyte from a “sell” rating to a “hold” rating in a research report on Saturday, March 3rd. Finally, Wells Fargo & Co started coverage on shares of Endocyte in a research report on Friday. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Endocyte presently has an average rating of “Hold” and a consensus price target of $7.00.
The stock has a market capitalization of $541.70, a PE ratio of -6.46 and a beta of 1.02.
In other news, insider Philip S. Low sold 50,511 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $4.41, for a total value of $222,753.51. Following the transaction, the insider now directly owns 354,050 shares in the company, valued at approximately $1,561,360.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 14.86% of the company’s stock.
Large investors have recently modified their holdings of the stock. AXA bought a new stake in Endocyte in the 4th quarter valued at about $101,000. Dimensional Fund Advisors LP lifted its position in Endocyte by 34.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 98,313 shares of the biopharmaceutical company’s stock valued at $147,000 after purchasing an additional 25,003 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Endocyte by 46.5% in the 4th quarter. Bank of New York Mellon Corp now owns 51,313 shares of the biopharmaceutical company’s stock valued at $219,000 after purchasing an additional 16,283 shares during the last quarter. EAM Investors LLC bought a new stake in Endocyte in the 4th quarter valued at about $420,000. Finally, Goldman Sachs Group Inc. lifted its position in Endocyte by 1,064.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 430,994 shares of the biopharmaceutical company’s stock valued at $646,000 after purchasing an additional 393,975 shares during the last quarter. Hedge funds and other institutional investors own 41.56% of the company’s stock.
Endocyte Company Profile
Endocyte Inc (Endocyte) is a biopharmaceutical company. The Company is engaged in developing therapies for the treatment of cancer and inflammatory diseases. The Company uses its technology to create small molecule drug conjugates (SMDCs) and companion imaging diagnostics. The Company’s pipeline includes Folate-Tubulysin (EC1456), the Company’s second generation SMDC, also targets the folate receptor; PSMA Tubulysin (EC1169), the Company’s non-folate SMDC, which is a tubulysin therapeutic targeting PSMA; Vintafolide (Folate DAVLBH), SMDC, vintafolide, targets the folate receptor with the anti-cancer drug payload DAVLBH; Folate-DNA alkylator (EC1788), which is a folate receptor-targeted SMDC with a potent DNA alkylator drug; Folate-Aminopterin (EC1669) is a folate receptor-targeted SMDC for the treatment in inflammatory diseases, and Folate-mTor inhibitor (EC0371), which is a folate receptor-targeted SMDC for the treatment of polycystic kidney disease(PKD).
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