Endocyte (ECYT) Sets New 52-Week High at $23.74

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Shares of Endocyte, Inc. (NASDAQ:ECYT) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.74 and last traded at $23.65, with a volume of 193482 shares. The stock had previously closed at $23.57.

A number of analysts have issued reports on the company. BidaskClub raised Endocyte from a “hold” rating to a “buy” rating in a research note on Tuesday, October 23rd. Wedbush downgraded Endocyte from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 18th. Zacks Investment Research raised Endocyte from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, July 10th. Wells Fargo & Co downgraded Endocyte from an “outperform” rating to a “market perform” rating in a research report on Friday, October 19th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $21.00 target price on shares of Endocyte in a research report on Thursday, August 2nd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $20.00.

The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -23.65 and a beta of 0.30.

Endocyte (NASDAQ:ECYT) last released its earnings results on Tuesday, July 31st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). The firm 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%. On average, equities research analysts forecast that Endocyte, Inc. will post -0.65 EPS for the current year.

In other Endocyte news, insider Philip S. Low sold 5,928 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $15.56, for a total value of $92,239.68. Following the transaction, the insider now owns 325,745 shares of the company’s stock, valued at approximately $5,068,592.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Beth Taylor sold 7,892 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $20.00, for a total value of $157,840.00. Following the completion of the transaction, the vice president now directly owns 63,363 shares in the company, valued at approximately $1,267,260. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,940 shares of company stock worth $1,077,041. Corporate insiders own 10.65% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in Endocyte by 50.2% in the 1st quarter. BlackRock Inc. now owns 1,710,716 shares of the biopharmaceutical company’s stock valued at $15,551,000 after acquiring an additional 571,925 shares during the last quarter. Wells Fargo & Company MN grew its position in Endocyte by 2,272.7% in the 1st quarter. Wells Fargo & Company MN now owns 33,218 shares of the biopharmaceutical company’s stock valued at $303,000 after acquiring an additional 31,818 shares during the last quarter. RA Capital Management LLC grew its position in Endocyte by 45.5% in the 2nd quarter. RA Capital Management LLC now owns 5,649,884 shares of the biopharmaceutical company’s stock valued at $77,968,000 after acquiring an additional 1,768,091 shares during the last quarter. Asymmetry Capital Management L.P. grew its position in Endocyte by 12.8% in the 2nd quarter. Asymmetry Capital Management L.P. now owns 103,159 shares of the biopharmaceutical company’s stock valued at $1,424,000 after acquiring an additional 11,724 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in Endocyte in the 2nd quarter valued at $313,000. 75.30% of the stock is currently owned by 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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