Avenue Therapeutics, Inc. (NASDAQ:ATXI) Sees Significant Decline in Short Interest

Avenue Therapeutics, Inc. (NASDAQ:ATXI) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 36,700 shares, a decrease of 22.2% from the August 15th total of 47,200 shares. Based on an average daily volume of 45,600 shares, the short-interest ratio is currently 0.8 days. Approximately 2.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On Avenue Therapeutics

An institutional investor recently bought a new position in Avenue Therapeutics stock. Armistice Capital LLC bought a new position in shares of Avenue Therapeutics, Inc. (NASDAQ:ATXI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 75,000 shares of the company’s stock, valued at approximately $262,000. Armistice Capital LLC owned approximately 7.97% of Avenue Therapeutics as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 17.34% of the company’s stock.

Avenue Therapeutics Price Performance

Shares of ATXI stock traded up $0.01 during trading hours on Friday, reaching $2.81. 6,894 shares of the company were exchanged, compared to its average volume of 62,516. The stock’s fifty day moving average is $2.90 and its two-hundred day moving average is $5.67. The company has a market cap of $2.64 million, a price-to-earnings ratio of -0.36 and a beta of -0.17. Avenue Therapeutics has a fifty-two week low of $2.25 and a fifty-two week high of $64.27.

Avenue Therapeutics (NASDAQ:ATXI) last issued its earnings results on Friday, August 9th. The company reported ($6.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($5.38).

About Avenue Therapeutics

Avenue Therapeutics, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of neurologic diseases. Its product candidates include AJ201, which is in a Phase 1b/2a clinical trial for the treatment of spinal and bulbar muscular atrophy; intravenous tramadol for the treatment of post-operative acute pain; and BAER-101 for the treatment of epilepsy and panic disorders.