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

Shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) 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 trading hands.

ESSA Pharma Price Performance

The stock has a market capitalization of $71.02 million, a price-to-earnings ratio of -2.32 and a beta of 1.59. The firm has a 50-day moving average of $1.70 and a two-hundred day moving average of $3.06.

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

Institutional Trading of ESSA Pharma

A number of institutional investors have recently bought and sold shares of the company. Tang Capital Management LLC acquired a new stake in shares of ESSA Pharma during the 4th quarter valued at about $7,697,000. BML Capital Management LLC acquired a new stake in ESSA Pharma in the fourth quarter valued at approximately $7,557,000. Altium Capital Management LLC bought a new stake in ESSA Pharma in the fourth quarter worth approximately $2,556,000. RTW Investments LP increased its stake in shares of 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 purchasing an additional 962,834 shares during the last quarter. Finally, Bank of America Corp DE raised 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 purchasing an additional 812,302 shares in the last quarter. Institutional investors and hedge funds 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.