Neuberger Berman Group LLC Sells 10,500 Shares of Loxo Oncology, Inc. (LOXO)
Neuberger Berman Group LLC reduced its holdings in Loxo Oncology, Inc. (NASDAQ:LOXO) by 70.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,500 shares of the biopharmaceutical company’s stock after selling 10,500 shares during the period. Neuberger Berman Group LLC’s holdings in Loxo Oncology were worth $415,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Loxo Oncology during the 3rd quarter worth about $122,000. Ameritas Investment Partners Inc. increased its stake in shares of Loxo Oncology by 31.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 419 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Loxo Oncology by 4,388.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 2,194 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Loxo Oncology during the 3rd quarter worth about $212,000. Finally, SG Americas Securities LLC acquired a new position in shares of Loxo Oncology during the 2nd quarter worth about $228,000. Hedge funds and other institutional investors own 99.98% of the company’s stock.
In other Loxo Oncology news, Director Timothy M. Mayleben sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $80.49, for a total value of $804,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Aisling Capital Iii Lp sold 500,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $75.00, for a total transaction of $37,500,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,614,555 shares of company stock valued at $124,567,942 in the last three months. Insiders own 27.80% of the company’s stock.
Several research analysts have recently weighed in on LOXO shares. Cowen restated a “buy” rating on shares of Loxo Oncology in a research note on Thursday, September 28th. BTIG Research restated a “buy” rating and set a $102.00 price objective (up from $75.00) on shares of Loxo Oncology in a research note on Friday, September 29th. Morgan Stanley reiterated an “overweight” rating and issued a $103.00 price target (up previously from $95.00) on shares of Loxo Oncology in a research note on Friday, October 6th. Citigroup reiterated a “buy” rating and issued a $112.00 price target (up previously from $86.00) on shares of Loxo Oncology in a research note on Friday, October 20th. Finally, Ifs Securities upgraded shares of Loxo Oncology from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, November 14th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Loxo Oncology has an average rating of “Buy” and an average target price of $90.57.
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Loxo Oncology Company Profile
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.
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