Avenue Therapeutics (NASDAQ:ATXI) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Avenue Therapeutics (NASDAQ:ATXI) from a hold rating to a sell rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “Avenue Therapeutics, Inc. is a specialty pharmaceutical company. It acquires, licenses, develops and commercializes products principally for use in the acute/intensive care hospital setting. Avenue Therapeutics, Inc. is based in New York, United States. “

NASDAQ ATXI traded down $0.10 during trading on Tuesday, hitting $11.96. The company had a trading volume of 49,728 shares, compared to its average volume of 34,988. Avenue Therapeutics has a one year low of $4.96 and a one year high of $12.34. The company’s fifty day moving average is $11.03 and its 200-day moving average is $9.91.

Avenue Therapeutics (NASDAQ:ATXI) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.11) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.11). On average, sell-side analysts predict that Avenue Therapeutics will post -0.63 earnings per share for the current year.

In other Avenue Therapeutics news, CFO Joseph Walter Vazzano sold 3,840 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $12.13, for a total value of $46,579.20. 4.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Morgan Stanley increased its stake in shares of Avenue Therapeutics by 47.3% in the 1st quarter. Morgan Stanley now owns 4,691 shares of the company’s stock worth $42,000 after acquiring an additional 1,506 shares in the last quarter. American International Group Inc. bought a new position in shares of Avenue Therapeutics in the 2nd quarter worth about $44,000. UBS Group AG increased its stake in shares of Avenue Therapeutics by 216.4% in the 2nd quarter. UBS Group AG now owns 6,328 shares of the company’s stock worth $68,000 after acquiring an additional 4,328 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Avenue Therapeutics in the 2nd quarter worth about $97,000. Finally, Jane Street Group LLC bought a new position in shares of Avenue Therapeutics in the 2nd quarter worth about $151,000. Institutional investors own 15.65% of the company’s stock.

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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