Investors Buy High Volume of Call Options on Loxo Oncology (LOXO)

Loxo Oncology Inc (NASDAQ:LOXO) was the target of some unusual options trading on Tuesday. Stock traders acquired 2,379 call options on the stock. This is an increase of 1,387% compared to the average volume of 160 call options.

In other news, VP Jennifer Burstein sold 1,700 shares of Loxo Oncology stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $74.82, for a total value of $127,194.00. Following the transaction, the vice president now directly owns 1,700 shares of the company’s stock, valued at approximately $127,194. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Naarden Jacob Van sold 3,082 shares of Loxo Oncology stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $74.50, for a total value of $229,609.00. Following the completion of the transaction, the insider now directly owns 1,541 shares in the company, valued at $114,804.50. The disclosure for this sale can be found here. Insiders sold a total of 1,648,178 shares of company stock worth $127,893,408 over the last ninety days. Corporate insiders own 27.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. QS Investors LLC acquired a new position in Loxo Oncology during the 4th quarter worth approximately $118,000. Quantbot Technologies LP acquired a new position in Loxo Oncology during the 3rd quarter worth approximately $122,000. Ameritas Investment Partners Inc. lifted its position in Loxo Oncology by 31.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 419 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Loxo Oncology during the 3rd quarter worth approximately $212,000. Finally, Amalgamated Bank acquired a new position in Loxo Oncology during the 3rd quarter worth approximately $268,000.

Loxo Oncology (LOXO) traded up $3.43 during trading on Wednesday, reaching $104.35. The company had a trading volume of 504,068 shares, compared to its average volume of 344,973. The firm has a market cap of $2,812.33, a price-to-earnings ratio of -17.31 and a beta of 2.57. Loxo Oncology has a 12-month low of $40.01 and a 12-month high of $108.50.

Several equities analysts have recently weighed in on LOXO shares. BidaskClub raised Loxo Oncology from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Zacks Investment Research raised Loxo Oncology from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. William Blair began coverage on Loxo Oncology in a research report on Tuesday, November 28th. They set an “outperform” rating on the stock. Ifs Securities raised Loxo Oncology from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, November 14th. Finally, JMP Securities raised Loxo Oncology from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $77.18 to $95.00 in a research report on Tuesday, November 14th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $97.33.

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Loxo Oncology Company Profile

Loxo Oncology, Inc is a biopharmaceutical company. The Company is focused on development of medicines for patients with genetically defined cancers. The Company’s pipeline focuses on cancers that are dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer with dramatic effect.

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