Market Runner: Does Endocyte, Inc. Have Any Gas After Touching All-Time Low?

Market Runner: Does Endocyte, Inc. Have Any Gas After Touching All Time Low?

The stock of Endocyte, Inc. (NASDAQ:ECYT) reached all time low today, Nov, 3 and still has $2.32 target or 14.00% below today’s $2.70 share price. This indicates more downside for the $114.74M company. This technical setup was reported by Barchart.com. If the $2.32 PT is reached, the company will be worth $16.06 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 96,084 shares traded hands. Endocyte, Inc. (NASDAQ:ECYT) has declined 15.60% since April 1, 2016 and is downtrending. It has underperformed by 16.81% the S&P500.

Endocyte, Inc. (NASDAQ:ECYT) Ratings Coverage

Out of 2 analysts covering Endocyte (NASDAQ:ECYT), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $13 is the highest target while $10 is the lowest. The $10 average target is 270.37% above today’s ($2.7) stock price. Endocyte has been the topic of 3 analyst reports since August 5, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of ECYT in a report on Wednesday, November 4 with “Outperform” rating. Credit Suisse initiated Endocyte, Inc. (NASDAQ:ECYT) on Thursday, January 21 with “Outperform” rating. The stock of Endocyte, Inc. (NASDAQ:ECYT) earned “Outperform” rating by RBC Capital Markets on Wednesday, August 5.

According to Zacks Investment Research, “Endocyte, Inc. is a biopharmaceutical company engaged in the development of therapies for the treatment of cancer and inflammatory diseases. The Company creates novel small molecule drug conjugates (SMDCs) and companion imaging diagnostics for personalized targeted therapies. Endocyte, Inc. is based in West Lafayette, Indiana.”

Insitutional Activity: The institutional sentiment decreased to 0.87 in Q2 2016. Its down 0.25, from 1.12 in 2016Q1. The ratio fall, as 10 funds sold all Endocyte, Inc. shares owned while 29 reduced positions. 9 funds bought stakes while 25 increased positions. They now own 15.26 million shares or 5.31% less from 16.12 million shares in 2016Q1.
Denver Advsr Lc accumulated 0% or 13,505 shares. Northern Tru, a Illinois-based fund reported 380,059 shares. Pnc Fincl Grp Inc has 0% invested in the company for 189 shares. Hilltop Holding Inc has invested 0.01% of its portfolio in Endocyte, Inc. (NASDAQ:ECYT). Creative Planning, a Kansas-based fund reported 2,000 shares. Blackrock Incorporated accumulated 0% or 9,866 shares. Art Advisors Limited Liability owns 30,273 shares or 0% of their US portfolio. Blackrock Japan Ltd last reported 0% of its portfolio in the stock. The New Jersey-based Blackrock Ltd Liability has invested 0% in Endocyte, Inc. (NASDAQ:ECYT). Schwab Charles Mngmt holds 0% of its portfolio in Endocyte, Inc. (NASDAQ:ECYT) for 112,233 shares. Ladenburg Thalmann Svcs Inc has 0% invested in the company for 1,825 shares. Millennium Management Ltd Liability Corporation has 599,810 shares for 0% of their US portfolio. First Fincl Corp In holds 0% of its portfolio in Endocyte, Inc. (NASDAQ:ECYT) for 100 shares. Stoneridge Investment Prtnrs Llc has 41,199 shares for 0.02% of their US portfolio. Concannon Wealth Management Ltd Liability Company holds 0.11% or 32,639 shares in its portfolio.

Insider Transactions: Since May 10, 2016, the stock had 1 buy, and 0 insider sales for $40,040 net activity. 11,375 shares with value of $40,040 were bought by Low Philip S on Tuesday, May 10.

More recent Endocyte, Inc. (NASDAQ:ECYT) news were published by: Ibj.com which released: “CEO Ellis resigns after 20 years at struggling drug firm Endocyte” on June 21, 2016. Also Medgadget.com published the news titled: “Endocyte, Inc Clinical Trial Review, Market Size, Segment, Trends and Forecast …” on November 01, 2016. Zacks.com‘s news article titled: “Endocyte (ECYT): Can the Stock Surprise in Q3 Earnings?” with publication date: October 28, 2016 was also an interesting one.

ECYT Company Profile

Endocyte Inc. (Endocyte), incorporated on December 11, 2001, is a biopharmaceutical company. The Firm is engaged in developing therapies for the treatment of cancer and inflammatory diseases. Endocyte uses its technology to create small molecule drug conjugates (SMDCs) and companion imaging diagnostics. The Company’s pipeline includes Folate-Tubulysin (EC1456), PSMA Tubulysin (EC1169), Vintafolide (Folate DAVLBH), Folate-DNA alkylator (EC1788), Folate-Aminopterin (EC1669), Folate-mTor inhibitor (EC0371), Etarfolatide (Folcepri or Tc99m) and PSMA- Tc99m (EC0652).

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