Russell Investments Group Ltd. purchased a new position in Loxo Oncology Inc (NASDAQ:LOXO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 54,430 shares of the biopharmaceutical company’s stock, valued at approximately $1,812,000. Russell Investments Group Ltd. owned 0.25% of Loxo Oncology as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Loxo Oncology by 22.3% in the third quarter. JPMorgan Chase & Co. now owns 76,867 shares of the biopharmaceutical company’s stock worth $2,012,000 after buying an additional 14,006 shares during the last quarter. Baker BROS. Advisors LP acquired a new position in Loxo Oncology during the third quarter worth $3,606,000. UBS Asset Management Americas Inc. boosted its position in Loxo Oncology by 10.3% in the third quarter. UBS Asset Management Americas Inc. now owns 230,575 shares of the biopharmaceutical company’s stock worth $6,037,000 after buying an additional 21,477 shares during the last quarter. Strs Ohio boosted its position in Loxo Oncology by 16.9% in the third quarter. Strs Ohio now owns 13,089 shares of the biopharmaceutical company’s stock worth $342,000 after buying an additional 1,889 shares during the last quarter. Finally, Adams Street Partners LLC acquired a new position in Loxo Oncology during the third quarter worth $314,000. 82.44% of the stock is owned by institutional investors.
Loxo Oncology Inc (NASDAQ:LOXO) traded up 2.31% during midday trading on Friday, hitting $47.79. The stock had a trading volume of 224,526 shares. The stock has a 50-day moving average price of $44.51 and a 200 day moving average price of $34.68. Loxo Oncology Inc has a 12-month low of $17.14 and a 12-month high of $49.80. The firm’s market cap is $1.25 billion.
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LOXO has been the subject of several research reports. BTIG Research reiterated a “buy” rating and set a $52.00 price objective on shares of Loxo Oncology in a research note on Sunday, March 12th. Jefferies Group LLC initiated coverage on Loxo Oncology in a research note on Wednesday, February 8th. They set a “buy” rating and a $50.00 price objective for the company. Zacks Investment Research upgraded Loxo Oncology from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, March 9th. Citigroup Inc lowered Loxo Oncology from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Friday, March 10th. Finally, Morgan Stanley initiated coverage on Loxo Oncology in a research report on Monday, April 3rd. They issued an “overweight” rating and a $59.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Loxo Oncology presently has a consensus rating of “Buy” and an average price target of $50.60.
About Loxo Oncology
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.
