National Asset Management Inc. decreased its stake in Avenue Therapeutics, Inc. (NASDAQ:ATXI) by 26.1% during the 2nd quarter, Holdings Channel reports. The firm owned 126,037 shares of the company’s stock after selling 44,450 shares during the quarter. National Asset Management Inc.’s holdings in Avenue Therapeutics were worth $317,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in ATXI. Geode Capital Management LLC grew its position in shares of Avenue Therapeutics by 5.9% in the first quarter. Geode Capital Management LLC now owns 132,594 shares of the company’s stock valued at $804,000 after purchasing an additional 7,333 shares during the period. Barclays PLC grew its position in shares of Avenue Therapeutics by 159.0% in the first quarter. Barclays PLC now owns 5,568 shares of the company’s stock valued at $34,000 after purchasing an additional 3,418 shares during the period. Axiom Investment Management LLC acquired a new stake in shares of Avenue Therapeutics in the first quarter valued at about $60,000. Trexquant Investment LP acquired a new stake in shares of Avenue Therapeutics in the first quarter valued at about $84,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Avenue Therapeutics in the first quarter worth about $105,000. Institutional investors and hedge funds own 6.71% of the company’s stock.
NASDAQ:ATXI opened at $1.56 on Friday. The company’s 50-day moving average price is $1.75 and its 200-day moving average price is $3.53. The company has a market cap of $26.13 million, a P/E ratio of -2.74 and a beta of 0.61. Avenue Therapeutics, Inc. has a twelve month low of $1.50 and a twelve month high of $11.34.
Separately, Zacks Investment Research raised shares of Avenue Therapeutics from a “sell” rating to a “hold” rating and set a $1.75 price target on the stock in a research note on Tuesday, August 17th.
Avenue Therapeutics Company Profile
Avenue Therapeutics, Inc is a specialty pharmaceutical company, which engages in acquiring, licensing, and commercializing products for use in the intensive care hospital setting. It focuses on the development of intravenous tramadol, a potential alternative that could reduce the use of conventional opioids for patients suffering from acute pain.
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