Bank of New York Mellon Corp increased its holdings in shares of Cascadian Therapeutics, Inc. (NASDAQ:CASC) by 649.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,575 shares of the biopharmaceutical company’s stock after acquiring an additional 133,962 shares during the period. Bank of New York Mellon Corp owned about 0.31% of Cascadian Therapeutics worth $574,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CASC. Vanguard Group Inc. lifted its holdings in Cascadian Therapeutics by 116.7% during the 1st quarter. Vanguard Group Inc. now owns 1,423,843 shares of the biopharmaceutical company’s stock worth $5,895,000 after buying an additional 766,725 shares in the last quarter. Boston Partners acquired a new position in Cascadian Therapeutics during the 2nd quarter worth $1,412,000. Goldman Sachs Group Inc. lifted its holdings in Cascadian Therapeutics by 920.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 205,178 shares of the biopharmaceutical company’s stock worth $849,000 after buying an additional 185,081 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cascadian Therapeutics by 118.8% during the 1st quarter. Geode Capital Management LLC now owns 252,934 shares of the biopharmaceutical company’s stock worth $1,047,000 after buying an additional 137,350 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new position in Cascadian Therapeutics during the 2nd quarter worth $225,000. Institutional investors and hedge funds own 82.87% of the company’s stock.
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Cascadian Therapeutics, Inc. (NASDAQ:CASC) opened at 4.42 on Monday. The firm’s market cap is $223.44 million. The firm’s 50-day moving average price is $4.11 and its 200 day moving average price is $3.96. Cascadian Therapeutics, Inc. has a 12-month low of $3.18 and a 12-month high of $7.80.
Cascadian Therapeutics (NASDAQ:CASC) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06. During the same quarter last year, the business posted ($1.57) EPS. Analysts forecast that Cascadian Therapeutics, Inc. will post $5.02 earnings per share for the current fiscal year.
Several research firms have issued reports on CASC. Barclays PLC began coverage on Cascadian Therapeutics in a report on Wednesday, September 6th. They set an “underweight” rating and a $4.00 price objective on the stock. Zacks Investment Research downgraded Cascadian Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Cowen and Company reaffirmed a “buy” rating on shares of Cascadian Therapeutics in a report on Wednesday, August 9th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $4.00 price objective on shares of Cascadian Therapeutics in a report on Monday, September 11th. Finally, ValuEngine downgraded Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $5.63.
Cascadian Therapeutics Profile
Cascadian Therapeutics, Inc, formerly Oncothyreon Inc, is a clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutic products for the treatment of cancer. The Company’s clinical-stage product candidate includes ONT-380, an orally active and selective small-molecule human epidermal growth factor receptor (HER) 2 inhibitor.
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