TIAA CREF Investment Management LLC cut its holdings in Loxo Oncology (NASDAQ:LOXO) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,244 shares of the biopharmaceutical company’s stock after selling 3,437 shares during the period. TIAA CREF Investment Management LLC owned about 0.23% of Loxo Oncology worth $5,745,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. QS Investors LLC acquired a new stake in shares of Loxo Oncology in the fourth quarter valued at approximately $118,000. Great West Life Assurance Co. Can increased its holdings in Loxo Oncology by 195.8% during the third quarter. Great West Life Assurance Co. Can now owns 2,958 shares of the biopharmaceutical company’s stock worth $275,000 after buying an additional 1,958 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Loxo Oncology during the fourth quarter worth $323,000. Tocqueville Asset Management L.P. acquired a new position in Loxo Oncology during the fourth quarter worth $337,000. Finally, Pinnacle Associates Ltd. acquired a new position in Loxo Oncology during the fourth quarter worth $451,000.
LOXO stock opened at $133.45 on Tuesday. Loxo Oncology has a one year low of $42.11 and a one year high of $136.52. The firm has a market cap of $3,693.90, a price-to-earnings ratio of -25.13 and a beta of 2.32.
In other Loxo Oncology news, CEO Joshua H. Bilenker sold 15,000 shares of Loxo Oncology stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $131.54, for a total transaction of $1,973,100.00. Following the completion of the transaction, the chief executive officer now directly owns 190,207 shares of the company’s stock, valued at $25,019,828.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jennifer Burstein sold 1,700 shares of Loxo Oncology stock in a transaction on Monday, February 12th. The stock was sold at an average price of $93.24, for a total transaction of $158,508.00. Following the transaction, the vice president now directly owns 1,700 shares of the company’s stock, valued at $158,508. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,646 shares of company stock valued at $7,600,358. Company insiders own 27.80% of the company’s stock.
LOXO has been the topic of a number of recent analyst reports. Morgan Stanley downgraded shares of Loxo Oncology from an “overweight” rating to an “equal weight” rating and set a $103.00 target price on the stock. in a report on Wednesday, March 21st. They noted that the move was a valuation call. Citigroup restated a “buy” rating and set a $151.00 target price (up from $108.00) on shares of Loxo Oncology in a report on Monday, March 5th. Cann initiated coverage on shares of Loxo Oncology in a report on Wednesday, February 21st. They set an “outperform” rating and a $132.00 target price on the stock. BidaskClub upgraded shares of Loxo Oncology from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Finally, Oppenheimer initiated coverage on shares of Loxo Oncology in a report on Thursday, February 22nd. They set an “outperform” rating and a $132.00 target price on the stock. Twelve equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $131.89.
About Loxo Oncology
Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.
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