ESSA Pharma (NASDAQ:EPIX) Stock Price Passes Below Fifty Day Moving Average – What’s Next?

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI)’s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.71 and traded as low as $1.60. ESSA Pharma shares last traded at $1.60, with a volume of 78,735 shares changing hands.

ESSA Pharma Price Performance

The firm has a market cap of $71.02 million, a PE ratio of -2.32 and a beta of 1.59. The business has a 50-day moving average price of $1.71 and a two-hundred day moving average price of $3.08.

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). Equities analysts expect that ESSA Pharma Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ESSA Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of EPIX. Parkman Healthcare Partners LLC lifted its position in shares of ESSA Pharma by 37.2% in the third quarter. Parkman Healthcare Partners LLC now owns 345,902 shares of the company’s stock valued at $2,096,000 after acquiring an additional 93,830 shares in the last quarter. RTW Investments LP lifted its holdings in ESSA Pharma by 41.9% in the 3rd quarter. RTW Investments LP now owns 3,261,496 shares of the company’s stock valued at $19,765,000 after purchasing an additional 962,834 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in ESSA Pharma in the 4th quarter valued at about $44,000. Magnus Financial Group LLC acquired a new stake in shares of ESSA Pharma during the 4th quarter worth about $99,000. Finally, BML Capital Management LLC purchased a new stake in shares of ESSA Pharma during the fourth quarter worth about $7,557,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

About ESSA Pharma

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.