Avenue Therapeutics Inc. [ATXI] Stock trading around $3.02 per share: What’s Next?

Avenue Therapeutics Inc. [NASDAQ: ATXI] stock went on a downward path that fall over -28.27% on Monday, amounting to a one-week price decrease of less than -32.59%. The company report on June 14, 2021 that Avenue Therapeutics Receives Complete Response Letter from the FDA for IV Tramadol.

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Avenue Therapeutics, Inc. (NASDAQ: ATXI) (“Avenue”), a company focused on the development of intravenous (“IV”) tramadol for the U.S. market, announced that it has received a second Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding its New Drug Application (“NDA”) seeking approval for IV tramadol.

The CRL stated that the delayed and unpredictable onset of analgesia with IV tramadol does not support its benefit as a monotherapy to treat patients in acute pain, and there is insufficient information to support that IV tramadol in combination with other analgesics is safe and effective for the intended patient population. The FDA did not identify any Chemistry, Manufacturing and Controls (“CMC”) issues in this CRL.

Over the last 12 months, ATXI stock dropped by -71.07%. The average equity rating for ATXI stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $52.37 million, with 16.56 million shares outstanding and 6.65 million shares in the current float. Compared to the average trading volume of 298.02K shares, ATXI stock reached a trading volume of 5835591 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Avenue Therapeutics Inc. [ATXI]:

The Average True Range (ATR) for Avenue Therapeutics Inc. is set at 0.43 The Price to Book ratio for the last quarter was 33.56.

ATXI Stock Performance Analysis:

Avenue Therapeutics Inc. [ATXI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -32.59. With this latest performance, ATXI shares dropped by -27.40% in over the last four-week period, additionally sinking by -18.38% over the last 6 months – not to mention a drop of -71.07% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATXI stock in for the last two-week period is set at 24.53, with the RSI for the last a single of trading hit 16.14, and the three-weeks RSI is set at 30.61 for Avenue Therapeutics Inc. [ATXI]. The present Moving Average for the last 50 days of trading for this stock 4.79, while it was recorded at 4.10 for the last single week of trading, and 5.94 for the last 200 days.

Insight into Avenue Therapeutics Inc. Fundamentals:

Return on Total Capital for ATXI is now -113.83, given the latest momentum, and Return on Invested Capital for the company is -112.48. Return on Equity for this stock declined to -112.48, with Return on Assets sitting at -84.72.

Reflecting on the efficiency of the workforce at the company, Avenue Therapeutics Inc. [ATXI] managed to generate an average of -$1,287,750 per employee.Avenue Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 4.10.

ATXI Stock EPS

With the latest financial reports released by the company, Avenue Therapeutics Inc. posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -10.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ATXI.

Avenue Therapeutics Inc. [ATXI] Insider Position Details

There are presently around $6 million, or 11.00% of ATXI stock, in the hands of institutional investors. The top three institutional holders of ATXI stocks are: VANGUARD GROUP INC with ownership of 698,133, which is approximately -25.707% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 362,894 shares of the stock with an approximate value of $1.1 million in ATXI stocks shares; and NATIONAL ASSET MANAGEMENT, INC., currently with $0.52 million in ATXI stock with ownership of nearly 1.609% of the company’s market capitalization.

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Positions in Avenue Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 14 institutional holders increased their position in Avenue Therapeutics Inc. [NASDAQ:ATXI] by around 107,354 shares. Additionally, 14 investors decreased positions by around 326,965 shares, while 10 investors held positions by with 1,401,375 shares. The mentioned changes placed institutional holdings at 1,835,694 shares, according to the latest SEC report filing. ATXI stock had 3 new institutional investments in for a total of 42,861 shares, while 4 institutional investors sold positions of 32,568 shares during the same period.

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