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

Shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) crossed 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 Down 0.6 %

The firm has a 50-day moving average price of $1.68 and a two-hundred day moving average price of $2.91. The company has a market capitalization of $68.80 million, a P/E ratio of -2.25 and a beta of 1.59.

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

Institutional Investors Weigh In On ESSA Pharma

Institutional investors have recently added to or reduced their stakes in the company. Parkman Healthcare Partners LLC lifted its position in shares of ESSA Pharma by 37.2% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 345,902 shares of the company’s stock worth $2,096,000 after acquiring an additional 93,830 shares during the period. RTW Investments LP lifted its position in ESSA Pharma by 41.9% in the third 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 period. FNY Investment Advisers LLC acquired a new stake in ESSA Pharma during the fourth quarter worth $44,000. Magnus Financial Group LLC bought a new stake in ESSA Pharma in the 4th quarter valued at $99,000. Finally, BML Capital Management LLC acquired a new position in shares of ESSA Pharma in the 4th quarter valued at $7,557,000. 75.12% of the stock is 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.