Avenue Therapeutics Inc. [NASDAQ: ATXI] traded at a high on 03/02/23, posting a 1.79 gain after which it closed the day’ session at $1.14. The company report on March 2, 2023 that Avenue Therapeutics Enters into a Transformational License Agreement with AnnJi Pharmaceutical to Develop and Commercialize AJ201, a First-in-Class Clinical Asset for the Treatment of Spinal and Bulbar Muscular Atrophy.
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AJ201 is being evaluated in a Phase 1b/2a clinical trial in the U.S. for the rare X-linked genetic neurodegenerative disease also known as Kennedy’s Disease which currently has no FDA approved therapy.
The results of the trading session contributed to over 5367990 shares changing hands. Over the past one week, the price volatility of Avenue Therapeutics Inc. stands at 8.15% while the volatility over the past one month is 6.64%.
The market cap for ATXI stock reached $5.91 million, with 5.08 million shares outstanding and 4.20 million shares in the current float. Compared to the average trading volume of 795.60K shares, ATXI reached a trading volume of 5367990 in the most recent trading day, which is why market watchdogs consider the stock to be active.
How has ATXI stock performed recently?
Avenue Therapeutics Inc. [ATXI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.87. With this latest performance, ATXI shares dropped by -17.39% in over the last four-week period, additionally sinking by -69.66% over the last 6 months – not to mention a drop of -87.47% 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 40.15, with the RSI for the last a single of trading hit 37.48, and the three-weeks RSI is set at 42.25 for Avenue Therapeutics Inc. [ATXI]. The present Moving Average for the last 50 days of trading for this stock 1.2898, while it was recorded at 1.1240 for the last single week of trading, and 3.0543 for the last 200 days.
Avenue Therapeutics Inc. [ATXI]: Deeper insight into the fundamentals
Return on Equity for this stock declined to -128.43, with Return on Assets sitting at -103.57.
Avenue Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.
Insider trade positions for Avenue Therapeutics Inc. [ATXI]
There are presently around $1 million, or 1.60% of ATXI stock, in the hands of institutional investors. The top three institutional holders of ATXI stocks are: SABBY MANAGEMENT, LLC with ownership of 264,000, which is approximately New of the company’s market cap and around 17.34% of the total institutional ownership; BANK OF NEW YORK MELLON CORP, holding 53,363 shares of the stock with an approximate value of $61000.0 in ATXI stocks shares; and QUBE RESEARCH & TECHNOLOGIES LTD, currently with $54000.0 in ATXI stock with ownership of nearly New of the company’s market capitalization.
Positions in Avenue Therapeutics Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 12 institutional holders increased their position in Avenue Therapeutics Inc. [NASDAQ:ATXI] by around 438,733 shares. Additionally, 4 investors decreased positions by around 65,791 shares, while 2 investors held positions by with 55,656 shares. The mentioned changes placed institutional holdings at 448,868 shares, according to the latest SEC report filing. ATXI stock had 7 new institutional investments in for a total of 419,922 shares, while 4 institutional investors sold positions of 65,791 shares during the same period.