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

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.66 and traded as low as $1.58. ESSA Pharma shares last traded at $1.58, with a volume of 74,752 shares changing hands.

ESSA Pharma Trading Down 6.3 %

The company has a market capitalization of $65.70 million, a price-to-earnings ratio of -2.14 and a beta of 1.61. The firm’s 50 day simple moving average is $1.65 and its 200-day simple moving average is $2.67.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last issued 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 forecast that ESSA Pharma Inc. will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On ESSA Pharma

A number of large investors have recently modified their holdings of EPIX. GTS Securities LLC purchased a new stake in shares of ESSA Pharma in the fourth quarter valued at approximately $30,000. Squarepoint Ops LLC purchased a new stake in shares of ESSA Pharma during the 4th quarter worth $26,000. Two Sigma Advisers LP acquired a new position in shares of ESSA Pharma during the 4th quarter worth $148,000. Two Sigma Investments LP purchased a new position in shares of ESSA Pharma in the 4th quarter valued at about $378,000. Finally, Tang Capital Management LLC purchased a new position in shares of ESSA Pharma in the 4th quarter valued at about $7,697,000. 75.12% of the stock is owned by hedge funds and other institutional investors.

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.