JPMorgan Chase & Co. Downgrades Aptinyx (NASDAQ:APTX) to Underweight

JPMorgan Chase & Co. downgraded shares of Aptinyx (NASDAQ:APTX) from a neutral rating to an underweight rating in a research note released on Tuesday, BenzingaRatingsTable reports.

Several other equities research analysts have also commented on APTX. ValuEngine raised shares of Aptinyx from a hold rating to a buy rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Aptinyx from a hold rating to a buy rating and set a $4.25 price target for the company in a report on Tuesday, July 16th. Svb Leerink began coverage on shares of Aptinyx in a report on Thursday, June 20th. They issued an outperform rating and a $12.00 price target for the company. Cowen reissued a buy rating on shares of Aptinyx in a report on Monday, June 10th. Finally, Cantor Fitzgerald reissued a buy rating on shares of Aptinyx in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $12.63.

Shares of NASDAQ APTX opened at $3.22 on Tuesday. The firm has a fifty day moving average of $3.61 and a 200 day moving average of $4.01. Aptinyx has a one year low of $2.88 and a one year high of $32.25.

Aptinyx (NASDAQ:APTX) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.16. The company had revenue of $0.93 million during the quarter, compared to analyst estimates of $0.95 million. Aptinyx had a negative net margin of 1,504.24% and a negative return on equity of 40.01%. Equities research analysts expect that Aptinyx will post -1.95 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Aptinyx by 30.6% during the fourth quarter. Bank of New York Mellon Corp now owns 43,887 shares of the company’s stock valued at $726,000 after buying an additional 10,284 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Aptinyx by 20.0% in the fourth quarter. Geode Capital Management LLC now owns 107,464 shares of the company’s stock worth $1,777,000 after purchasing an additional 17,914 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Aptinyx by 430.0% in the fourth quarter. Bank of America Corp DE now owns 13,213 shares of the company’s stock worth $218,000 after purchasing an additional 10,720 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Aptinyx by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,237 shares of the company’s stock worth $120,000 after purchasing an additional 5,652 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Aptinyx in the fourth quarter worth $266,000. 58.30% of the stock is currently owned by institutional investors.

About Aptinyx

Aptinyx Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel, proprietary, and synthetic small molecules for the treatment of brain and nervous system disorders. It is developing NYX-2925 that is in Phase II clinical trial for the treatment of painful diabetic peripheral neuropathy, as well as in Phase II exploratory clinical trial for fibromyalgia; and NYX-783, an NMDAr receptor that is in Phase I clinical trial for the treatment of post-traumatic stress disorder.

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