Short Interest in Avenue Therapeutics Inc (NASDAQ:ATXI) Grows By 14.8%

Avenue Therapeutics Inc (NASDAQ:ATXI) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 14,700 shares, an increase of 14.8% from the April 30th total of 12,800 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 56,100 shares, the short-interest ratio is currently 0.3 days.

Shares of NASDAQ ATXI traded up $0.17 during trading on Friday, reaching $6.24. 33,774 shares of the stock traded hands, compared to its average volume of 35,849. Avenue Therapeutics has a 52-week low of $2.08 and a 52-week high of $7.98. The firm has a 50-day moving average of $5.86. The stock has a market cap of $100.51 million, a PE ratio of -2.97 and a beta of -0.40.

Avenue Therapeutics (NASDAQ:ATXI) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.39). Equities research analysts forecast that Avenue Therapeutics will post -1.82 EPS for the current year.

Several research firms have weighed in on ATXI. HC Wainwright set a $25.00 price objective on Onconova Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, May 14th. ValuEngine cut Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 25th.

In related news, Director Neil Herskowitz bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were bought at an average price of $5.86 per share, with a total value of $29,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.00% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ATXI. National Asset Management Inc. lifted its position in shares of Avenue Therapeutics by 4.7% during the 4th quarter. National Asset Management Inc. now owns 66,250 shares of the company’s stock valued at $358,000 after buying an additional 3,000 shares during the last quarter. Northern Trust Corp bought a new stake in shares of Avenue Therapeutics during the 4th quarter valued at $79,000. Opaleye Management Inc. bought a new stake in shares of Avenue Therapeutics during the 4th quarter valued at $2,678,000. Finally, Spark Investment Management LLC bought a new stake in shares of Avenue Therapeutics during the 1st quarter valued at $144,000. 7.01% of the stock is currently owned by hedge funds and other institutional investors.

Avenue Therapeutics Company Profile

Avenue Therapeutics, Inc, a specialty pharmaceutical company, acquires, licenses, develops, and commercializes products primarily for use in the acute/intensive care hospital setting. Its product candidate is intravenous Tramadol, which is in Phase III clinical trials to treat moderate to moderately severe post-operative pain.

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