ESSA Pharma (NASDAQ:EPIX) Stock Price Passes Below 50-Day Moving Average – Here’s What Happened

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.66 and traded as low as $1.58. ESSA Pharma shares last traded at $1.58, with a volume of 74,752 shares changing hands.

ESSA Pharma Trading Down 6.3 %

The stock has a market capitalization of $65.70 million, a price-to-earnings ratio of -2.14 and a beta of 1.61. The company’s 50 day moving average is $1.65 and its 200 day moving average is $2.67.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last posted its earnings results on Tuesday, February 11th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01). Analysts anticipate that ESSA Pharma Inc. will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On ESSA Pharma

Hedge funds have recently modified their holdings of the business. RTW Investments LP grew its position in ESSA Pharma by 41.9% during the 3rd quarter. RTW Investments LP now owns 3,261,496 shares of the company’s stock worth $19,765,000 after purchasing an additional 962,834 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of ESSA Pharma during the fourth quarter worth about $44,000. Magnus Financial Group LLC purchased a new position in shares of ESSA Pharma during the fourth quarter worth about $99,000. BML Capital Management LLC acquired a new position in ESSA Pharma in the 4th quarter valued at about $7,557,000. Finally, Lepercq Multi Asset Fund purchased a new stake in ESSA Pharma during the 4th quarter valued at approximately $54,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

ESSA Pharma Company Profile

ESSA Pharma Inc, a clinical stage pharmaceutical company, focuses the development of small molecule drugs for the treatment of prostate cancer. The company’s lead candidate EPI-7386, an androgen receptor based resistance mechanisms that develop in patients with castration-resistant prostate cancer and metastatic castration-resistant prostate cancer.