Propel Bio Management LLC Sells 1,006,569 Shares of Milestone Pharmaceuticals Inc. $MIST

Propel Bio Management LLC lowered its position in Milestone Pharmaceuticals Inc. (NASDAQ:MIST) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,118,321 shares of the company’s stock after selling 1,006,569 shares during the period. Milestone Pharmaceuticals accounts for 7.1% of Propel Bio Management LLC’s portfolio, making the stock its 5th largest holding. Propel Bio Management LLC’s holdings in Milestone Pharmaceuticals were worth $8,319,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MIST. Eaton Financial Holdings Company LLC bought a new stake in Milestone Pharmaceuticals during the fourth quarter worth approximately $26,000. Strategic Family Wealth Counselors L.L.C. bought a new stake in Milestone Pharmaceuticals during the fourth quarter worth approximately $25,000. October Effect Ltd bought a new stake in Milestone Pharmaceuticals during the fourth quarter worth approximately $105,000. SG Americas Securities LLC bought a new stake in Milestone Pharmaceuticals during the fourth quarter worth approximately $197,000. Finally, Bay Rivers Group boosted its position in Milestone Pharmaceuticals by 72.9% during the fourth quarter. Bay Rivers Group now owns 28,861 shares of the company’s stock worth $58,000 after purchasing an additional 12,170 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO Joseph Oliveto sold 36,500 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $2.26, for a total transaction of $82,490.00. Following the sale, the chief executive officer owned 446,244 shares of the company’s stock, valued at approximately $1,008,511.44. This trade represents a 7.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.50% of the company’s stock.

Milestone Pharmaceuticals Price Performance

Shares of MIST stock opened at $1.23 on Friday. The stock’s fifty day simple moving average is $1.64 and its 200 day simple moving average is $1.88. The company has a debt-to-equity ratio of 1.61, a current ratio of 9.18 and a quick ratio of 9.09. The firm has a market cap of $153.14 million, a price-to-earnings ratio of -1.81 and a beta of 0.95. Milestone Pharmaceuticals Inc. has a one year low of $1.00 and a one year high of $3.06.

Milestone Pharmaceuticals (NASDAQ:MIST) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.26). The business had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $30.12 million. On average, analysts expect that Milestone Pharmaceuticals Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MIST. Zacks Research cut Milestone Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Friday, May 15th. Wells Fargo & Company cut their price target on Milestone Pharmaceuticals from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Raymond James Financial initiated coverage on Milestone Pharmaceuticals in a report on Friday, April 10th. They set a “strong-buy” rating and a $6.00 price target for the company. Finally, Wall Street Zen lowered Milestone Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Milestone Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

About Milestone Pharmaceuticals

Milestone Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for respiratory diseases. The company’s research emphasizes both biologic and small-molecule approaches designed to improve mucociliary clearance, reduce airway inflammation and address chronic and refractory cough. Milestone’s pipeline targets key underserved conditions such as cystic fibrosis, primary ciliary dyskinesia and severe asthma.

Milestone’s lead product candidates are delivered through inhalation or systemic administration, reflecting the company’s commitment to optimizing therapeutic delivery directly to the lungs.