Rhumbline Advisers Invests $143,000 in Cascadian Therapeutics, Inc. (CASC) Stock
Rhumbline Advisers bought a new stake in Cascadian Therapeutics, Inc. (NASDAQ:CASC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,394 shares of the biopharmaceutical company’s stock, valued at approximately $143,000. Rhumbline Advisers owned 0.08% of Cascadian Therapeutics at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Baupost Group LLC MA lifted its stake in Cascadian Therapeutics by 109.3% in the first quarter. Baupost Group LLC MA now owns 8,721,079 shares of the biopharmaceutical company’s stock valued at $36,105,000 after buying an additional 4,554,413 shares during the period. Vanguard Group Inc. lifted its stake in Cascadian Therapeutics by 116.7% in the first quarter. Vanguard Group Inc. now owns 1,423,843 shares of the biopharmaceutical company’s stock valued at $5,895,000 after buying an additional 766,725 shares during the period. Citadel Advisors LLC acquired a new position in Cascadian Therapeutics in the first quarter valued at about $142,000. BlueCrest Capital Management Ltd acquired a new position in Cascadian Therapeutics in the first quarter valued at about $122,000. Finally, Geode Capital Management LLC lifted its stake in Cascadian Therapeutics by 118.8% in the first quarter. Geode Capital Management LLC now owns 252,934 shares of the biopharmaceutical company’s stock valued at $1,047,000 after buying an additional 137,350 shares during the period. 82.55% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Cascadian Therapeutics, Inc. (NASDAQ CASC) opened at 4.25 on Wednesday. The firm’s market cap is $214.85 million. Cascadian Therapeutics, Inc. has a 52-week low of $3.18 and a 52-week high of $8.22. The stock’s 50 day moving average price is $3.94 and its 200-day moving average price is $3.93.
Cascadian Therapeutics (NASDAQ:CASC) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. During the same period last year, the company earned ($1.57) earnings per share. On average, analysts forecast that Cascadian Therapeutics, Inc. will post $5.02 EPS for the current year.
Several research firms have weighed in on CASC. Zacks Investment Research lowered Cascadian Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Cowen and Company reissued a “buy” rating on shares of Cascadian Therapeutics in a research note on Wednesday, August 9th. Barclays PLC began coverage on Cascadian Therapeutics in a research note on Wednesday, September 6th. They issued an “underweight” rating and a $4.00 target price on the stock. ValuEngine lowered Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $4.00 target price on shares of Cascadian Therapeutics in a research note on Thursday, August 31st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.63.
About Cascadian Therapeutics
Cascadian Therapeutics, Inc, formerly Oncothyreon Inc, is a clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutic products for the treatment of cancer. The Company’s clinical-stage product candidate includes ONT-380, an orally active and selective small-molecule human epidermal growth factor receptor (HER) 2 inhibitor.
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