Cascadian Therapeutics, Inc. (CASC) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Cascadian Therapeutics, Inc. (NASDAQ:CASC) from a sell rating to a hold rating in a report released on Tuesday.

According to Zacks, “Cascadian Therapeutics, Inc. is a biopharmaceutical company specializing in developing innovative therapeutic product candidates for the treatment of cancer. The company’s product candidate is ONT-380, an orally active and selective small molecule HER2 inhibitor which is in preclinical trial stage. Cascadian Therapeutics, Inc., formerly known as Oncothyreon Inc., is headquartered in Seattle, Washington. “

CASC has been the subject of a number of other reports. Cowen and Company reiterated a buy rating on shares of Cascadian Therapeutics in a research report on Monday, October 10th. Jefferies Group LLC reiterated a buy rating and set a $3.00 price target on shares of Cascadian Therapeutics in a research report on Tuesday, November 8th.

Cascadian Therapeutics (NASDAQ:CASC) opened at 4.12 on Tuesday. The company has a 50-day moving average price of $4.32 and a 200-day moving average price of $2.49. The firm’s market capitalization is $92.91 million. Cascadian Therapeutics has a 12-month low of $0.82 and a 12-month high of $6.72.

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In other Cascadian Therapeutics news, Director Ted W. Love acquired 23,000 shares of the company’s stock in a transaction dated Thursday, February 2nd. The stock was acquired at an average cost of $4.24 per share, with a total value of $97,520.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christopher S. Henney acquired 25,324 shares of the company’s stock in a transaction dated Monday, January 30th. The shares were acquired at an average cost of $4.11 per share, with a total value of $104,081.64. Following the completion of the purchase, the director now owns 50,000 shares in the company, valued at $205,500. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 68,824 shares of company stock valued at $278,682. Corporate insiders own 20.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sandia Holdings LLC acquired a new position in shares of Cascadian Therapeutics during the fourth quarter worth $2,343,000. Oxford Asset Management boosted its position in shares of Cascadian Therapeutics by 50.2% in the fourth quarter. Oxford Asset Management now owns 122,075 shares of the biopharmaceutical company’s stock worth $526,000 after buying an additional 40,782 shares during the period. Handelsbanken Fonder AB acquired a new position in shares of Cascadian Therapeutics during the fourth quarter worth $362,000. Finally, Susquehanna International Group LLP boosted its position in shares of Cascadian Therapeutics by 944.4% in the third quarter. Susquehanna International Group LLP now owns 250,788 shares of the biopharmaceutical company’s stock worth $411,000 after buying an additional 280,488 shares during the period.

Cascadian Therapeutics Company 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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