ESSA Pharma Inc. (NASDAQ:EPIX) Short Interest Down 5.3% in December

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 901,200 shares, a decrease of 5.3% from the December 15th total of 951,500 shares. Based on an average trading volume of 969,200 shares, the short-interest ratio is currently 0.9 days.

ESSA Pharma Price Performance

Shares of EPIX stock opened at $1.75 on Monday. The firm has a 50-day moving average of $1.74 and a 200-day moving average of $4.07. ESSA Pharma has a one year low of $1.40 and a one year high of $11.67. The company has a market cap of $77.68 million, a P/E ratio of -2.73 and a beta of 1.61.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last posted its quarterly earnings data on Tuesday, December 17th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.05. As a group, research analysts expect that ESSA Pharma will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ESSA Pharma news, major shareholder Growth N. V. Biotech sold 7,879,583 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $1.53, for a total transaction of $12,055,761.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.70% of the company’s stock.

Institutional Trading of ESSA Pharma

Hedge funds have recently bought and sold shares of the business. RTW Investments LP grew its stake in ESSA Pharma by 41.9% in the 3rd quarter. RTW Investments LP now owns 3,261,496 shares of the company’s stock valued at $19,765,000 after purchasing an additional 962,834 shares during the period. Parkman Healthcare Partners LLC grew its position in ESSA Pharma by 37.2% during the third quarter. Parkman Healthcare Partners LLC now owns 345,902 shares of the company’s stock valued at $2,096,000 after buying an additional 93,830 shares during the period. FNY Investment Advisers LLC purchased a new stake in ESSA Pharma during the fourth quarter worth about $44,000. Finally, Magnus Financial Group LLC bought a new stake in ESSA Pharma in the fourth quarter worth about $99,000. 75.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EPIX. Oppenheimer downgraded shares of ESSA Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday, November 4th. Piper Sandler lowered ESSA Pharma from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $2.00 in a report on Monday, November 4th. Finally, Jefferies Financial Group lowered ESSA Pharma from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

ESSA Pharma Company Profile

ESSA Pharma Inc, a clinical stage pharmaceutical company, focuses the development of small molecule drugs for the treatment of prostate cancer. The company’s lead candidate EPI-7386, an androgen receptor based resistance mechanisms that develop in patients with castration-resistant prostate cancer and metastatic castration-resistant prostate cancer.