Pictet Asset Management Ltd. bought a new position in shares of Loxo Oncology, Inc. (NASDAQ:LOXO) during the second quarter, Holdings Channel reports. The fund bought 210,766 shares of the biopharmaceutical company’s stock, valued at approximately $9,622,000.

Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of Loxo Oncology by 8.4% in the first quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 284 shares during the period. Bank of America Corp DE boosted its stake in shares of Loxo Oncology by 162.6% in the first quarter. Bank of America Corp DE now owns 8,176 shares of the biopharmaceutical company’s stock worth $344,000 after buying an additional 5,063 shares during the period. American International Group Inc. boosted its stake in shares of Loxo Oncology by 27.1% in the first quarter. American International Group Inc. now owns 9,749 shares of the biopharmaceutical company’s stock worth $410,000 after buying an additional 2,081 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Loxo Oncology by 33.3% in the first quarter. Wells Fargo & Company MN now owns 15,503 shares of the biopharmaceutical company’s stock worth $653,000 after buying an additional 3,875 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of Loxo Oncology by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 22,139 shares of the biopharmaceutical company’s stock worth $711,000 after buying an additional 905 shares during the period.

Shares of Loxo Oncology, Inc. (NASDAQ:LOXO) opened at 74.06 on Tuesday. Loxo Oncology, Inc. has a 1-year low of $17.14 and a 1-year high of $83.12. The stock’s market capitalization is $2.21 billion. The firm’s 50-day moving average price is $74.99 and its 200 day moving average price is $55.31.

Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.99) by $0.15. During the same period last year, the business posted ($0.77) earnings per share. Analysts expect that Loxo Oncology, Inc. will post ($4.34) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “210,766 Shares in Loxo Oncology, Inc. (NASDAQ:LOXO) Acquired by Pictet Asset Management Ltd.” was published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at https://www.watchlistnews.com/210766-shares-in-loxo-oncology-inc-nasdaqloxo-acquired-by-pictet-asset-management-ltd/1489150.html.

A number of analysts recently issued reports on LOXO shares. BTIG Research reissued a “buy” rating and issued a $75.00 target price on shares of Loxo Oncology in a research report on Tuesday, June 6th. Stifel Nicolaus upped their target price on Loxo Oncology from $52.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, June 5th. Citigroup Inc. raised Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Monday, June 5th. Zacks Investment Research raised Loxo Oncology from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Wednesday, August 9th. Finally, BidaskClub cut Loxo Oncology from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $79.67.

In related news, Director Keith T. Flaherty sold 7,250 shares of Loxo Oncology stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $45.09, for a total value of $326,902.50. Following the completion of the transaction, the director now directly owns 27,141 shares in the company, valued at $1,223,787.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.80% of the stock is currently owned by company insiders.

About Loxo Oncology

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.

Want to see what other hedge funds are holding LOXO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Loxo Oncology, Inc. (NASDAQ:LOXO).

Institutional Ownership by Quarter for Loxo Oncology (NASDAQ:LOXO)

Receive News & Ratings for Loxo Oncology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loxo Oncology Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.