Endocyte (NASDAQ:ECYT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
According to Zacks, “Endocyte has very few candidates in its pipeline with all of them in the early or mid-stages of development. With no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Endocyte’s products will face intense competition in the market from both large pharma companies and small and mid-sized companies.However, in October 2017, Endocyte accelerated its path to commercialization as it acquired the rights to PSMA-617, being evaluated for the treatment of prostate cancer. The candidate represents a more than $1 billion market opportunity and its development is now the main priority of the company. Currently, the company plans to focus on its most promising programs – lutetium PSMA-617 radioligand therapy and prostate cancer, and CAR T-cell small-molecule drug conjugates (SMDC) adaptor platform. In the last one year, shares of the company have outperformed the industry.”
Separately, ValuEngine cut shares of Endocyte from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th.
In other news, insider Philip S. Low sold 50,511 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $4.41, for a total transaction of $222,753.51. Following the completion of the sale, the insider now owns 354,050 shares of the company’s stock, valued at $1,561,360.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher P. Leamon sold 23,231 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $5.04, for a total transaction of $117,084.24. Following the sale, the vice president now directly owns 150,579 shares of the company’s stock, valued at approximately $758,918.16. The disclosure for this sale can be found here. Insiders have sold 124,253 shares of company stock valued at $562,591 in the last three months. Corporate insiders own 14.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ECYT. FMR LLC grew its stake in Endocyte by 0.9% during the 2nd quarter. FMR LLC now owns 3,540,203 shares of the biopharmaceutical company’s stock valued at $5,310,000 after acquiring an additional 31,168 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Endocyte by 34.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 98,313 shares of the biopharmaceutical company’s stock valued at $147,000 after acquiring an additional 25,003 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Endocyte by 1,064.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 430,994 shares of the biopharmaceutical company’s stock valued at $646,000 after acquiring an additional 393,975 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Endocyte by 46.5% during 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 acquiring an additional 16,283 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Endocyte by 223.7% during the 4th quarter. BlackRock Inc. now owns 1,138,791 shares of the biopharmaceutical company’s stock valued at $4,875,000 after acquiring an additional 786,933 shares in the last quarter. 17.42% of the stock is owned by institutional investors.
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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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