Shares of Endocyte, Inc. (NASDAQ:ECYT) were up 10.7% on Wednesday . The company traded as high as $11.54 and last traded at $9.66. Approximately 4,065,009 shares traded hands during trading, an increase of 85% from the average daily volume of 2,200,874 shares. The stock had previously closed at $10.82.
A number of analysts recently weighed in on ECYT shares. Cowen upgraded shares of Endocyte from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 27th. Zacks Investment Research lowered shares of Endocyte from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. ValuEngine upgraded shares of Endocyte from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. BidaskClub upgraded shares of Endocyte from a “sell” rating to a “hold” rating in a research note on Saturday, March 3rd. Finally, Wells Fargo & Co initiated coverage on shares of Endocyte in a research note on Friday, March 9th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $7.00.
The stock has a market cap of $642.61, a P/E ratio of -7.66 and a beta of 1.02.
In other Endocyte news, insider Philip S. Low sold 50,511 shares of the stock in a transaction that occurred on 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 $1,561,360.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher P. Leamon sold 5,036 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $9.07, for a total transaction of $45,676.52. Following the completion of the transaction, the vice president now owns 143,470 shares in the company, valued at $1,301,272.90. The disclosure for this sale can be found here. Insiders sold 106,058 shares of company stock worth $491,184 over the last quarter. 14.86% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in ECYT. Perceptive Advisors LLC acquired a new stake in shares of Endocyte in the fourth quarter valued at approximately $6,213,000. Goldman Sachs Group Inc. boosted its holdings in shares of Endocyte by 1,443.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 173,759 shares of the biopharmaceutical company’s stock valued at $744,000 after acquiring an additional 162,498 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Endocyte by 42.0% in the fourth quarter. Renaissance Technologies LLC now owns 293,580 shares of the biopharmaceutical company’s stock valued at $1,257,000 after acquiring an additional 86,800 shares during the period. AXA acquired a new stake in shares of Endocyte in the fourth quarter valued at approximately $101,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Endocyte by 15.6% in the fourth quarter. Geode Capital Management LLC now owns 241,498 shares of the biopharmaceutical company’s stock valued at $1,033,000 after acquiring an additional 32,603 shares during the period. Institutional investors own 41.56% of the company’s stock.
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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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