Avenue Therapeutics, Inc. (NASDAQ:ATXI) Sees Large Drop in Short Interest

Avenue Therapeutics, Inc. (NASDAQ:ATXI) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 36,700 shares, a decline of 22.2% from the August 15th total of 47,200 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average trading volume of 45,600 shares, the days-to-cover ratio is presently 0.8 days.

Avenue Therapeutics Price Performance

Shares of NASDAQ:ATXI opened at $2.79 on Tuesday. The firm has a market capitalization of $2.63 million, a PE ratio of -0.35 and a beta of -0.17. Avenue Therapeutics has a 1 year low of $2.25 and a 1 year high of $64.27. The firm’s 50-day moving average is $2.88 and its two-hundred day moving average is $5.57.

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

Institutional Trading of Avenue Therapeutics

A hedge fund recently bought a new stake in Avenue Therapeutics stock. Armistice Capital LLC purchased a new position in shares of Avenue Therapeutics, Inc. (NASDAQ:ATXI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 75,000 shares of the company’s stock, valued at approximately $262,000. Armistice Capital LLC owned 7.97% of Avenue Therapeutics at the end of the most recent reporting period. Institutional investors own 17.34% of the company’s stock.

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.