ESSA Pharma (NASDAQ:EPIX) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $1.68 and traded as low as $1.55. ESSA Pharma shares last traded at $1.55, with a volume of 82,165 shares traded.

ESSA Pharma Stock Performance

The firm has a market cap of $68.80 million, a price-to-earnings ratio of -2.25 and a beta of 1.59. The business’s 50-day moving average is $1.68 and its 200-day moving average is $2.91.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last posted its quarterly earnings data 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 research analysts expect that ESSA Pharma Inc. will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On ESSA Pharma

Several institutional investors have recently bought and sold shares of the business. Tang Capital Management LLC acquired a new stake in shares of ESSA Pharma in the fourth quarter valued at $7,697,000. BML Capital Management LLC bought a new stake in ESSA Pharma during the 4th quarter worth about $7,557,000. RTW Investments LP grew its holdings 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 acquiring an additional 962,834 shares during the last quarter. Altium Capital Management LLC acquired a new stake in ESSA Pharma in the 4th quarter valued at about $2,556,000. Finally, Bank of America Corp DE raised its stake in shares of ESSA Pharma by 10,153,775.0% in the fourth quarter. Bank of America Corp DE now owns 812,310 shares of the company’s stock worth $1,454,000 after acquiring an additional 812,302 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

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.