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

Avenue Therapeutics, Inc. (NASDAQ:ATXI) saw a significant decline in short interest during the month of 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 stock are sold short. Based on an average trading volume of 45,600 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Avenue Therapeutics stock. Armistice Capital LLC acquired a new position in shares of Avenue Therapeutics, Inc. (NASDAQ:ATXI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 75,000 shares of the company’s stock, valued at approximately $262,000. Armistice Capital LLC owned about 7.97% of Avenue Therapeutics as of its most recent filing with the Securities & Exchange Commission. 17.34% of the stock is currently owned by hedge funds and other institutional investors.

Avenue Therapeutics Trading Down 0.7 %

Shares of NASDAQ:ATXI opened at $2.79 on Tuesday. The company has a market cap of $2.63 million, a PE ratio of -0.35 and a beta of -0.17. The company’s 50 day moving average is $2.88 and its two-hundred day moving average is $5.57. Avenue Therapeutics has a 52 week low of $2.25 and a 52 week high of $64.27.

Avenue Therapeutics (NASDAQ:ATXI) last posted its quarterly earnings results on Friday, August 9th. The company reported ($6.43) earnings per share 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.