596,000 Shares in Endocyte, Inc. (ECYT) Purchased by Nexthera Capital LP
Nexthera Capital LP purchased a new stake in Endocyte, Inc. (NASDAQ:ECYT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 596,000 shares of the biopharmaceutical company’s stock, valued at approximately $8,225,000. Endocyte accounts for approximately 1.3% of Nexthera Capital LP’s investment portfolio, making the stock its 24th biggest position.
Several other large investors also recently added to or reduced their stakes in the stock. venBio Select Advisor LLC acquired a new stake in Endocyte during the 1st quarter worth about $51,769,000. VHCP Management II LLC acquired a new stake in Endocyte during the 1st quarter worth about $39,087,000. BlackRock Inc. boosted its position in Endocyte by 204.5% during the 2nd quarter. BlackRock Inc. now owns 5,208,711 shares of the biopharmaceutical company’s stock worth $71,879,000 after acquiring an additional 3,497,995 shares during the period. RA Capital Management LLC boosted its position in Endocyte by 45.5% during the 2nd quarter. RA Capital Management LLC now owns 5,649,884 shares of the biopharmaceutical company’s stock worth $77,968,000 after acquiring an additional 1,768,091 shares during the period. Finally, Rock Springs Capital Management LP acquired a new stake in Endocyte during the 1st quarter worth about $6,136,000. Institutional investors and hedge funds own 75.61% of the company’s stock.
In other news, VP Beth Taylor sold 7,892 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $20.00, for a total transaction of $157,840.00. Following the completion of the sale, the vice president now directly owns 63,363 shares of the company’s stock, valued at approximately $1,267,260. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 9,591 shares of company stock valued at $185,623 over the last ninety days. Company insiders own 14.86% of the company’s stock.
Endocyte (NASDAQ:ECYT) last posted its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.17). Endocyte had a negative return on equity of 30.87% and a negative net margin of 69,330.66%. The company had revenue of $0.01 million during the quarter. equities research analysts anticipate that Endocyte, Inc. will post -0.67 earnings per share for the current fiscal year.
A number of equities research analysts have commented on ECYT shares. Zacks Investment Research upgraded Endocyte from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, July 10th. BidaskClub lowered Endocyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 8th. Wedbush raised their price objective on Endocyte from $15.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, July 16th. Jefferies Financial Group restated a “buy” rating and set a $21.00 price objective on shares of Endocyte in a research report on Thursday, August 2nd. Finally, Cowen restated a “buy” rating on shares of Endocyte in a research report on Monday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $20.00.
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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