Zacks Investment Research downgraded shares of Stemline Therapeutics (NASDAQ:STML) from a hold rating to a sell rating in a research report sent to investors on Wednesday.
According to Zacks, “Stemline Therapeutics, Inc. is a biopharmaceutical company developing oncology therapeutics that target cancer stem cells and tumor bulk. The company is developing SL-401, a biologic-drug conjugate, for relapsed or refractory acute myeloid leukemia; and SL-701, a synthetic peptide vaccine, for pediatric and adult high-grade gliomas. Stemline Therapeutics, Inc. is based in New York. “
A number of other brokerages have also issued reports on STML. Piper Jaffray Companies restated an overweight rating on shares of Stemline Therapeutics in a research report on Wednesday, February 6th. HC Wainwright set a $38.00 price target on shares of Stemline Therapeutics and gave the stock a buy rating in a research note on Wednesday, November 21st. Roth Capital set a $33.00 price target on shares of Stemline Therapeutics and gave the stock a buy rating in a research note on Wednesday, November 14th. ValuEngine raised shares of Stemline Therapeutics from a hold rating to a buy rating in a research note on Friday, November 23rd. Finally, BidaskClub downgraded shares of Stemline Therapeutics from a hold rating to a sell rating in a research note on Thursday, November 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Stemline Therapeutics currently has an average rating of Buy and a consensus price target of $25.40.
NASDAQ STML traded up $0.30 during mid-day trading on Wednesday, reaching $11.27. 241,110 shares of the stock were exchanged, compared to its average volume of 534,504. Stemline Therapeutics has a 1-year low of $7.82 and a 1-year high of $20.55.
In other news, insider David Gionco sold 8,563 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $12.03, for a total value of $103,012.89. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Kenneth Hoberman sold 13,547 shares of the firm’s stock in a transaction on Tuesday, January 8th. The shares were sold at an average price of $10.15, for a total transaction of $137,502.05. The disclosure for this sale can be found here. In the last three months, insiders sold 89,704 shares of company stock worth $1,018,043. Insiders own 14.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Stemline Therapeutics by 27.1% in the 4th quarter. Legal & General Group Plc now owns 5,249 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 1,120 shares during the period. Virtus ETF Advisers LLC raised its stake in shares of Stemline Therapeutics by 11.2% in the 4th quarter. Virtus ETF Advisers LLC now owns 29,723 shares of the biopharmaceutical company’s stock valued at $282,000 after acquiring an additional 2,982 shares during the period. Bank of America Corp DE raised its stake in shares of Stemline Therapeutics by 56.8% in the 4th quarter. Bank of America Corp DE now owns 10,669 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 3,866 shares during the period. Great West Life Assurance Co. Can purchased a new position in shares of Stemline Therapeutics in the 4th quarter valued at $47,000. Finally, MetLife Investment Advisors LLC raised its stake in shares of Stemline Therapeutics by 54.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 18,474 shares of the biopharmaceutical company’s stock valued at $307,000 after acquiring an additional 6,527 shares during the period. 66.28% of the stock is currently owned by institutional investors and hedge funds.
Stemline Therapeutics Company Profile
Stemline Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, acquisition, development, and commercialization of proprietary oncology therapeutics in the United States and internationally. The company develops SL-401, a targeted therapy directed to the interleukin-3 receptor (IL-3R), which has completed Phase II clinical trial for patients with blastic plasmacytoid dendritic cell neoplasm; is in Phase I/II clinical trials for patients with myeloproliferative neoplasms, chronic myelomonocytic leukemia, myelofibrosis, and acute myeloid leukemia; and is in Phase I clinical trial in combination with other agents for patients with relapsed/refractory multiple myeloma.
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