Avenue Therapeutics, Inc. (NASDAQ:ATXI) Sees Large Decline in Short Interest

Avenue Therapeutics, Inc. (NASDAQ:ATXI) saw a significant decline in short interest in December. As of December 15th, there was short interest totalling 35,100 shares, a decline of 25.0% from the November 30th total of 46,800 shares. Based on an average daily volume of 46,100 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.9% of the company’s stock are sold short.

Institutional Investors Weigh In On Avenue Therapeutics

A hedge fund recently bought a new stake in Avenue Therapeutics stock. Moss Adams Wealth Advisors LLC bought a new stake in shares of Avenue Therapeutics, Inc. (NASDAQ:ATXI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,000 shares of the company’s stock, valued at approximately $27,000. Moss Adams Wealth Advisors LLC owned 1.17% of Avenue Therapeutics at the end of the most recent quarter. 17.34% of the stock is owned by hedge funds and other institutional investors.

Avenue Therapeutics Stock Up 4.3 %

Shares of NASDAQ ATXI traded up $0.08 on Friday, reaching $1.94. 32,429 shares of the company’s stock traded hands, compared to its average volume of 56,841. The business’s 50 day simple moving average is $2.00 and its two-hundred day simple moving average is $2.55. The company has a market cap of $3.98 million, a price-to-earnings ratio of 0.11 and a beta of -0.20. Avenue Therapeutics has a 12 month low of $1.60 and a 12 month high of $26.47.

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.