Endocyte Target of Unusually High Options Trading (ECYT)

Endocyte, Inc. (NASDAQ:ECYT) was the recipient of unusually large options trading activity on Thursday. Traders purchased 35,360 call options on the stock. This is an increase of approximately 6,713% compared to the typical volume of 519 call options.

Several analysts have recently weighed in on ECYT shares. Zacks Investment Research raised shares of Endocyte from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, July 10th. BidaskClub lowered shares of Endocyte from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Wedbush raised their price objective on shares of Endocyte from $15.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, July 16th. Wells Fargo & Co lowered shares of Endocyte from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $21.00 price objective on shares of Endocyte in a report on Thursday, August 2nd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Endocyte presently has a consensus rating of “Buy” and a consensus price target of $20.00.

NASDAQ ECYT opened at $23.48 on Friday. The company has a market cap of $1.09 billion, a PE ratio of -23.46 and a beta of 0.30. Endocyte has a 1-year low of $2.81 and a 1-year high of $23.54.

Endocyte (NASDAQ:ECYT) last posted its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.17). The company had revenue of $0.01 million during the quarter. Endocyte had a negative net margin of 69,330.66% and a negative return on equity of 30.87%. Equities research analysts forecast that Endocyte will post -0.66 EPS for the current year.

In other news, insider Philip S. Low sold 5,928 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $15.56, for a total transaction of $92,239.68. Following the completion of the sale, the insider now owns 325,745 shares of the company’s stock, valued at $5,068,592.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Beth Taylor sold 7,892 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $20.00, for a total transaction of $157,840.00. Following the sale, the vice president now directly owns 63,363 shares of the company’s stock, valued at approximately $1,267,260. The disclosure for this sale can be found here. Insiders sold 68,354 shares of company stock valued at $1,099,637 in the last three months. Company insiders own 14.86% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Birchview Capital LP bought a new stake in shares of Endocyte during the second quarter valued at approximately $138,000. Guggenheim Capital LLC bought a new stake in shares of Endocyte during the first quarter valued at approximately $145,000. Sigma Planning Corp bought a new stake in shares of Endocyte during the second quarter valued at approximately $147,000. Legal & General Group Plc bought a new stake in shares of Endocyte during the second quarter valued at approximately $149,000. Finally, BlueMountain Capital Management LLC bought a new stake in shares of Endocyte during the second quarter valued at approximately $153,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

About Endocyte

Endocyte, Inc, a biopharmaceutical company, develops targeted therapies for the treatment of cancer and inflammatory diseases in the United States. The company uses its technology to create novel small molecule drug conjugates (SMDCs) and companion imaging agents. It is developing Vintafolide, a SMDC that is in Phase IIb clinical trial to treat non-small cell lung cancer; EC1456, which is in Phase I dose escalation trial for the treatment of advanced solid tumors; and EC1169, a tubulysin therapeutic that is in Phase I dose escalation trial to treat advanced metastatic castration-resistant prostate cancer.

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