Endocyte (ECYT) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Endocyte (NASDAQ:ECYT) from a sell rating to a hold rating in a research note released on Friday.
According to Zacks, “In October 2017, Endocyte accelerated its path to commercialization as it acquired the rights to PSMA-617, being evaluated for the treatment of prostate cancer. The candidate represents a more than $1 billion market opportunity and its development is now the main priority of the company. Currently, the company plans to focus on its most promising programs – lutetium PSMA-617 radioligand therapy and prostate cancer, and CAR T-cell small-molecule drug conjugates (SMDC) adaptor platform. In the last one year, shares of the company have outperformed the industry. However, Endocyte has very few candidates in its pipeline with all of them in the early or mid-stages of development. With no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Endocyte’s products will face intense competition in the market from both large pharma companies and small and mid-sized companies.”
Separately, ValuEngine lowered shares of Endocyte from a hold rating to a sell rating in a report on Tuesday, November 14th.
In related news, VP Christopher P. Leamon sold 23,231 shares of Endocyte stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $5.04, for a total transaction of $117,084.24. Following the sale, the vice president now directly owns 150,579 shares in the company, valued at approximately $758,918.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Philip S. Low sold 50,511 shares of Endocyte stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $4.41, for a total transaction of $222,753.51. Following the sale, the insider now owns 354,050 shares in the company, valued at $1,561,360.50. The disclosure for this sale can be found here. Insiders have sold a total of 124,253 shares of company stock worth $562,591 over the last ninety days. 14.86% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Endocyte by 46.5% during the 4th quarter. Bank of New York Mellon Corp now owns 51,313 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 16,283 shares during the period. EAM Investors LLC acquired a new stake in Endocyte during the 4th quarter worth approximately $420,000. Dimensional Fund Advisors LP boosted its position in Endocyte by 34.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 98,313 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 25,003 shares during the period. Goldman Sachs Group Inc. boosted its position in Endocyte by 1,064.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 430,994 shares of the biopharmaceutical company’s stock worth $646,000 after buying an additional 393,975 shares during the period. Finally, BlackRock Inc. boosted its position in Endocyte by 223.7% during the 4th quarter. BlackRock Inc. now owns 1,138,791 shares of the biopharmaceutical company’s stock worth $4,875,000 after buying an additional 786,933 shares during the period. Institutional investors and hedge funds own 17.42% of the company’s stock.
Endocyte Inc (Endocyte) is a biopharmaceutical company. The Company is engaged in developing therapies for the treatment of cancer and inflammatory diseases. The Company uses its technology to create small molecule drug conjugates (SMDCs) and companion imaging diagnostics. The Company’s pipeline includes Folate-Tubulysin (EC1456), the Company’s second generation SMDC, also targets the folate receptor; PSMA Tubulysin (EC1169), the Company’s non-folate SMDC, which is a tubulysin therapeutic targeting PSMA; Vintafolide (Folate DAVLBH), SMDC, vintafolide, targets the folate receptor with the anti-cancer drug payload DAVLBH; Folate-DNA alkylator (EC1788), which is a folate receptor-targeted SMDC with a potent DNA alkylator drug; Folate-Aminopterin (EC1669) is a folate receptor-targeted SMDC for the treatment in inflammatory diseases, and Folate-mTor inhibitor (EC0371), which is a folate receptor-targeted SMDC for the treatment of polycystic kidney disease(PKD).
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