Loxo Oncology Inc (LOXO) Stake Boosted by Legal & General Group Plc

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Legal & General Group Plc raised its holdings in shares of Loxo Oncology Inc (NASDAQ:LOXO) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,764 shares of the biopharmaceutical company’s stock after purchasing an additional 634 shares during the period. Legal & General Group Plc’s holdings in Loxo Oncology were worth $1,507,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Exane Derivatives acquired a new position in shares of Loxo Oncology during the fourth quarter worth $43,000. Dorsey Wright & Associates increased its position in shares of Loxo Oncology by 20.0% during the fourth quarter. Dorsey Wright & Associates now owns 312 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 52 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Loxo Oncology by 177.0% during the fourth quarter. Meeder Asset Management Inc. now owns 338 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 216 shares in the last quarter. Cornerstone Advisors Inc. increased its position in shares of Loxo Oncology by 46.0% during the fourth quarter. Cornerstone Advisors Inc. now owns 387 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 122 shares in the last quarter. Finally, Advisor Group Inc. increased its position in shares of Loxo Oncology by 78.4% during the fourth quarter. Advisor Group Inc. now owns 505 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 222 shares in the last quarter. 96.49% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ LOXO opened at $234.66 on Friday. Loxo Oncology Inc has a 1 year low of $101.70 and a 1 year high of $234.93. The firm has a market capitalization of $7.18 billion, a P/E ratio of -44.19 and a beta of 2.51.

A number of brokerages have recently issued reports on LOXO. BidaskClub downgraded Loxo Oncology from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. William Blair downgraded Loxo Oncology from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 17th. Citigroup downgraded Loxo Oncology from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 8th. Leerink Swann downgraded Loxo Oncology from an “outperform” rating to a “market perform” rating in a research report on Monday, January 7th. Finally, Ifs Securities downgraded Loxo Oncology from an “outperform” rating to a “market perform” rating in a research report on Monday, January 7th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $198.58.

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Loxo Oncology Profile

Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.

Further Reading: How liquidity affects the bid-ask spread

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Institutional Ownership by Quarter for Loxo Oncology (NASDAQ:LOXO)

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