Activity Alert – Endocyte, Inc.
UPDATE: We no longer cover ECYT and this update is to close out our coverage with a summary of results. We alerted our readers to ECYT mid-morning on January 3, 2012 because we believed that the market had over-reacted downwardly to a December press release, and that the share price would bounce back. Readers could have purchased ECYT that day for between $3.60 and $3.94, and the next day for as low as $3.56. Theoretically the maximum profit on this stock based on our alert was 80%, but in reality alert investors should have made profits in the 45% to 65% range within 11 to 12 weeks.
We’d like to alert you to current trading activity in Endocyte, Inc. – NASDAQ: ECYT.
In early January we alerted our readers to ECYT because we felt the market had over-reacted to some bad news and that the price was due for a rebound. We also felt ECYT could potentially be a good long term investment, but we alerted our readers to this stock strictly based on the short term potential.
Well, the rebound is finally here. Endocyte has reported some good news about earnings and its plans to submit applications to the EU for conditional marketing authorization of two of its drugs.
At the time of our initial alert, investors could have bought ECYT in the $3.55 – $3.65 range. Today, as of 11:15 ET, ECYT has been trading over $5.00 for some time. That’s a 40%-plus gain in just over 2 months! [Update March 29: Later in the day and for part of the next, ECYT was trading well over $6.]
Those of you still invested in ECYT should look into this immediately and evaluate whether or not you want to exit at this time. For those interested in buying ECYT, we’ve made no current analysis and have no opinion.
Endocyte, Inc. NASDAQ: ECYT is a biopharmaceutical company that develops targeted therapies for the treatment of cancer and inflammatory diseases. These therapies involve novel small molecule drug conjugates, or SMDCs, created by the company and companion imaging diagnostics.
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