StockNews.com Initiates Coverage on Bio-Path (NASDAQ:BPTH)

Equities researchers at StockNews.com initiated coverage on shares of Bio-Path (NASDAQ:BPTH) in a note issued to investors on Saturday. The brokerage set a “sell” rating on the stock.

Bio-Path Trading Down 9.7 %

Shares of NASDAQ:BPTH opened at $0.81 on Friday. The firm’s 50-day moving average is $0.98 and its two-hundred day moving average is $1.59. Bio-Path has a 1 year low of $0.80 and a 1 year high of $12.40.

Bio-Path (NASDAQ:BPTH) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($1.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.38. During the same period last year, the company earned ($10.60) earnings per share. As a group, research analysts anticipate that Bio-Path will post -6.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Bio-Path stock. Armistice Capital LLC acquired a new stake in Bio-Path Holdings, Inc. (NASDAQ:BPTH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 97,000 shares of the company’s stock, valued at approximately $194,000. Armistice Capital LLC owned approximately 4.66% of Bio-Path as of its most recent SEC filing. 5.74% of the stock is owned by institutional investors and hedge funds.

Bio-Path Company Profile

Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nanoparticle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology platform that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.