Avenue Therapeutics Inc (NASDAQ:ATXI) Sees Significant Drop in Short Interest

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Avenue Therapeutics Inc (NASDAQ:ATXI) saw a significant drop in short interest in March. As of March 13th, there was short interest totalling 4,600 shares, a drop of 59.3% from the February 27th total of 11,300 shares. Based on an average trading volume of 71,700 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

Several analysts have issued reports on the stock. ValuEngine raised shares of Avenue Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, March 5th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Avenue Therapeutics in a research report on Thursday, February 13th.

ATXI stock opened at $7.63 on Friday. Avenue Therapeutics has a twelve month low of $4.13 and a twelve month high of $11.47. The company has a market capitalization of $116.63 million, a P/E ratio of -4.31 and a beta of 0.08. The firm has a 50 day simple moving average of $8.83 and a 200-day simple moving average of $7.41.

In other news, Director Neil Herskowitz acquired 10,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was bought at an average price of $8.98 per share, with a total value of $89,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 15,100 shares of company stock valued at $132,241 in the last ninety days. 5.00% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new stake in shares of Avenue Therapeutics during the third quarter worth approximately $76,000. National Asset Management Inc. grew its position in shares of Avenue Therapeutics by 3.4% during the fourth quarter. National Asset Management Inc. now owns 76,250 shares of the company’s stock worth $732,000 after buying an additional 2,500 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Avenue Therapeutics during the fourth quarter worth approximately $121,000. 9.43% of the stock is owned by institutional investors and hedge funds.

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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