ESSA Pharma (NASDAQ:EPIX) Shares Cross Below 50 Day Moving Average – Here’s What Happened

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 traded.

ESSA Pharma Stock Performance

The business’s 50 day moving average price is $1.70 and its two-hundred day moving average price is $3.06. The company has a market capitalization of $71.02 million, a price-to-earnings ratio of -2.32 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) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). On average, sell-side analysts expect that ESSA Pharma Inc. will post -0.42 earnings per share for the current year.

Hedge Funds Weigh In On ESSA Pharma

Several large investors have recently made changes to their positions in EPIX. Squarepoint Ops LLC bought a new stake in ESSA Pharma during the fourth quarter worth approximately $26,000. Two Sigma Securities LLC acquired a new stake in shares of ESSA Pharma during the 4th quarter valued at $29,000. GTS Securities LLC bought a new stake in shares of ESSA Pharma during the 4th quarter worth $30,000. FNY Investment Advisers LLC acquired a new position in shares of ESSA Pharma in the 4th quarter worth $44,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of ESSA Pharma during the fourth quarter worth $47,000. Institutional investors own 75.12% of the company’s stock.

About ESSA Pharma

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.