Endocyte, Inc. (NASDAQ:ECYT) Misses But Shares Rise

Endocyte, Inc. (NASDAQ:ECYT)

This morning Endocyte, Inc. (NASDAQ:ECYT) announced Q4 financial results ending December 31, 2016. The biotech company also provided a clinical update. Indiana-based Endocyte develops treatments for cancer and inflammatory diseases using proprietary technology to create “small molecule drug conjugates” (SMDCs). They have collaboration agreements with the Purdue Research Foundation and a Master License Agreement with Merck Sharp & Dohme Research GmbH.

For Q4 2016, Endocyte, Inc. (NASDAQ:ECYT) reported a net loss of $11.1 million and an EPS loss of ($0.26) which was $0.01 worse than analyst expectations. In Q4, 2016 the company reported a net loss of $9.8 million and an EPS loss of ($0.23). Shares have responded by gaining over 10% in the pre-market and have reached $2.55.

Endocyte, Inc. (NASDAQ:ECYT) Pipeline

2017 Clinical Update
  • Endocyte will be providing a safety and efficacy update for product candidates EC1169 and EC1456 from their ongoing clinical trial at the Annual Meeting of the American Society of Clinical Oncology in June.
  • The company, sometime in the first half of 2017, will update and complete the pre-clinical data for their CAR T-cell program.
  • Endocyte will commence enrollment for the Phase 1 trial of product candidate EC 2629 in the second half of the year.

Three analysts cover Endocyte, Inc. (NASDAQ:ECYT). Two rate the shares a “Strong Buy” and one rates ECYT shares a “Hold”. ECYT is trading above it 20 and 50-day moving averages but 15% below its 200-day moving averages. The 52-week high for ECYT is $4.33 and the low is $1.86. ECYT shares gained over 6% in the past month but are down over 10% YTD.

3/10/2017
Ticker Symbol ECYT
Last Price a/o 8:39 AM EST  $                      2.50
Average Volume                    228,000
Market Cap (mlns)  $                    95.94
Sales (mlns) $0.07
Shares Outstanding (mlns) 42.26
Share Float (mlns) 41.09
Shortable Yes
Optionable Yes
Inside Ownership 1.60%
Short Float 3.55%
Short Interest Ratio 6.4
Quarterly Return -17.75%
YTD Return -10.98%
Year Return -36.24%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy. 

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Author: Marcus Anderson

Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

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