OppenheimerFunds Inc. lessened its stake in Loxo Oncology Inc (NASDAQ:LOXO) by 8.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,017,333 shares of the biopharmaceutical company’s stock after selling 98,342 shares during the quarter. OppenheimerFunds Inc.’s holdings in Loxo Oncology were worth $173,791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Mercantile Trust Co. lifted its holdings in Loxo Oncology by 45.8% during the 3rd quarter. First Mercantile Trust Co. now owns 1,029 shares of the biopharmaceutical company’s stock valued at $176,000 after purchasing an additional 323 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in Loxo Oncology during the 2nd quarter valued at $209,000. Aperio Group LLC acquired a new stake in Loxo Oncology during the 2nd quarter valued at $306,000. Marshall Wace LLP acquired a new stake in Loxo Oncology during the 2nd quarter valued at $320,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Loxo Oncology during the 2nd quarter valued at $348,000. 96.81% of the stock is owned by institutional investors.

LOXO stock opened at $130.78 on Thursday. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -24.63 and a beta of 2.21. Loxo Oncology Inc has a fifty-two week low of $75.17 and a fifty-two week high of $208.95.

Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.24). The firm had revenue of $42.47 million for the quarter, compared to the consensus estimate of $38.55 million. Loxo Oncology had a negative return on equity of 16.42% and a negative net margin of 43.49%. During the same quarter in the previous year, the business earned ($2.45) EPS. On average, sell-side analysts forecast that Loxo Oncology Inc will post -2.34 earnings per share for the current fiscal year.

In related news, VP Jennifer Burstein sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $166.96, for a total value of $417,400.00. Following the transaction, the vice president now owns 1,250 shares in the company, valued at $208,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joshua H. Bilenker sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $166.20, for a total value of $3,324,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 102,500 shares of company stock worth $16,412,950 in the last quarter. Company insiders own 17.10% of the company’s stock.

LOXO has been the subject of several research reports. Cann reaffirmed a “buy” rating and set a $202.00 price target on shares of Loxo Oncology in a report on Monday, August 27th. Citigroup cut their price target on Loxo Oncology from $235.00 to $233.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Morgan Stanley cut their price target on Loxo Oncology from $215.00 to $213.00 and set an “overweight” rating for the company in a report on Thursday, October 11th. Piper Jaffray Companies set a $200.00 price target on Loxo Oncology and gave the company a “buy” rating in a report on Tuesday, November 27th. Finally, Ifs Securities raised Loxo Oncology from a “market perform” rating to an “outperform” rating in a report on Monday, October 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $189.38.

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Loxo Oncology Company Profile

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

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