Avenue Therapeutics, Inc. (NASDAQ:ATXI) Sees Large Drop in Short Interest

by · The Cerbat Gem

Avenue Therapeutics, Inc. (NASDAQ:ATXI – Get Free Report) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 27,400 shares, a decrease of 13.0% from the September 30th total of 31,500 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 51,600 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Avenue Therapeutics

An institutional investor recently bought a new position in Avenue Therapeutics stock. Armistice Capital LLC acquired a new position in shares of Avenue Therapeutics, Inc. (NASDAQ:ATXI – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 75,000 shares of the company’s stock, valued at approximately $262,000. Armistice Capital LLC owned 7.97% of Avenue Therapeutics at the end of the most recent reporting period. Institutional investors own 17.34% of the company’s stock.

Avenue Therapeutics Price Performance

Shares of ATXI stock traded up $0.02 during trading hours on Thursday, reaching $2.42. 13,897 shares of the stock were exchanged, compared to its average volume of 61,436. The business’s fifty day moving average is $2.44 and its two-hundred day moving average is $3.49. The firm has a market capitalization of $3.46 million, a P/E ratio of -0.31 and a beta of -0.17. Avenue Therapeutics has a 12-month low of $1.70 and a 12-month high of $26.47.

Avenue Therapeutics (NASDAQ:ATXI – Get Free Report) last issued its earnings results on Friday, August 9th. The company reported ($6.43) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($5.38).

Avenue Therapeutics Company Profile

(Get Free Report)

Avenue Therapeutics, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of neurologic diseases. Its product candidates include AJ201, which is in a Phase 1b/2a clinical trial for the treatment of spinal and bulbar muscular atrophy; intravenous tramadol for the treatment of post-operative acute pain; and BAER-101 for the treatment of epilepsy and panic disorders.

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