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

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-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.

ESSA Pharma Stock Down 1.2 %

The business’s fifty day moving average is $1.71 and its 200-day moving average is $3.08. The stock has a market capitalization of $71.02 million, a PE ratio of -2.32 and a beta of 1.59.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.01). As a group, sell-side analysts anticipate that ESSA Pharma Inc. will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On ESSA Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in EPIX. Tang Capital Management LLC purchased a new stake in shares of ESSA Pharma during the 4th quarter worth about $7,697,000. BML Capital Management LLC purchased a new stake in ESSA Pharma during the fourth quarter worth approximately $7,557,000. Altium Capital Management LLC acquired a new stake in shares of ESSA Pharma in the fourth quarter worth $2,556,000. RTW Investments LP raised its stake in shares of 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 acquiring an additional 962,834 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of ESSA Pharma by 10,153,775.0% during the 4th quarter. Bank of America Corp DE now owns 812,310 shares of the company’s stock valued at $1,454,000 after acquiring an additional 812,302 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

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.