Avenue Therapeutics (NASDAQ:ATXI) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Avenue Therapeutics (NASDAQ:ATXI) from a hold rating to a sell rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Avenue Therapeutics, Inc. is a specialty pharmaceutical company. It acquires, licenses, develops and commercializes products principally for use in the acute/intensive care hospital setting. Avenue Therapeutics, Inc. is based in New York, United States. “

NASDAQ ATXI traded down $0.10 on Tuesday, reaching $11.96. 49,728 shares of the stock were exchanged, compared to its average volume of 34,988. Avenue Therapeutics has a one year low of $4.96 and a one year high of $12.34. The company’s 50-day simple moving average is $11.03 and its two-hundred day simple moving average is $9.91.

Avenue Therapeutics (NASDAQ:ATXI) last released its earnings results on Friday, August 14th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Sell-side analysts forecast that Avenue Therapeutics will post -0.63 EPS for the current year.

In other news, CFO Joseph Walter Vazzano sold 3,840 shares of Avenue Therapeutics stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $12.13, for a total transaction of $46,579.20. Company insiders own 4.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ATXI. BlackRock Inc. increased its position in Avenue Therapeutics by 7.9% in the first quarter. BlackRock Inc. now owns 47,057 shares of the company’s stock worth $420,000 after purchasing an additional 3,443 shares during the last quarter. National Asset Management Inc. increased its position in Avenue Therapeutics by 25.9% in the first quarter. National Asset Management Inc. now owns 96,000 shares of the company’s stock worth $859,000 after purchasing an additional 19,750 shares during the last quarter. Geode Capital Management LLC increased its position in Avenue Therapeutics by 3.2% in the first quarter. Geode Capital Management LLC now owns 70,115 shares of the company’s stock worth $626,000 after purchasing an additional 2,204 shares during the last quarter. Morgan Stanley increased its position in Avenue Therapeutics by 47.3% in the first quarter. Morgan Stanley now owns 4,691 shares of the company’s stock worth $42,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Avenue Therapeutics in the first quarter worth $174,000. Institutional investors own 15.65% of the company’s stock.

About Avenue Therapeutics

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.

See Also: Net Asset Value

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