Avenue Therapeutics Inc (NASDAQ:ATXI) Short Interest Up 37.1% in November

Avenue Therapeutics Inc (NASDAQ:ATXI) was the recipient of a large growth in short interest during the month of November. As of November 29th, there was short interest totalling 20,700 shares, a growth of 37.1% from the November 14th total of 15,100 shares. Based on an average daily trading volume, of 19,700 shares, the short-interest ratio is currently 1.1 days. Currently, 0.3% of the company’s stock are short sold.

In related news, Director Elizabeth Garrett Ingram bought 16,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $6.27 per share, with a total value of $100,320.00. Following the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $100,320. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.00% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new stake in Avenue Therapeutics during the 3rd quarter worth $76,000. BlackRock Inc. boosted its stake in Avenue Therapeutics by 135.7% during the 2nd quarter. BlackRock Inc. now owns 39,933 shares of the company’s stock worth $251,000 after purchasing an additional 22,994 shares during the period. Finally, National Asset Management Inc. boosted its stake in Avenue Therapeutics by 9.3% during the 2nd quarter. National Asset Management Inc. now owns 64,750 shares of the company’s stock worth $408,000 after purchasing an additional 5,500 shares during the period. Hedge funds and other institutional investors own 8.72% of the company’s stock.

Shares of NASDAQ ATXI traded up $0.38 during mid-day trading on Wednesday, reaching $6.81. The company had a trading volume of 128,100 shares, compared to its average volume of 36,805. The stock has a market cap of $108.30 million, a P/E ratio of -3.22 and a beta of -0.43. The firm has a 50 day simple moving average of $5.82 and a two-hundred day simple moving average of $5.88. Avenue Therapeutics has a 52-week low of $4.13 and a 52-week high of $7.98.

Avenue Therapeutics (NASDAQ:ATXI) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.18. Research analysts predict that Avenue Therapeutics will post -1.66 earnings per share for the current fiscal year.

Separately, ValuEngine raised shares of Avenue Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 15th.

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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