National Asset Management Inc. Sells 44,450 Shares of Avenue Therapeutics, Inc. (NASDAQ:ATXI)

National Asset Management Inc. trimmed its position in shares of Avenue Therapeutics, Inc. (NASDAQ:ATXI) by 26.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,037 shares of the company’s stock after selling 44,450 shares during the period. National Asset Management Inc. owned about 0.75% of Avenue Therapeutics worth $317,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC grew its stake in Avenue Therapeutics by 5.9% in the 1st quarter. Geode Capital Management LLC now owns 132,594 shares of the company’s stock worth $804,000 after acquiring an additional 7,333 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Avenue Therapeutics in the 1st quarter worth about $105,000. Trexquant Investment LP bought a new position in Avenue Therapeutics in the 1st quarter worth about $84,000. Squarepoint Ops LLC bought a new position in Avenue Therapeutics in the 1st quarter worth about $71,000. Finally, Axiom Investment Management LLC bought a new position in Avenue Therapeutics in the 1st quarter worth about $60,000. Institutional investors and hedge funds own 6.71% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Avenue Therapeutics from a “sell” rating to a “hold” rating and set a $1.75 target price on the stock in a research note on Tuesday, August 17th.

Shares of ATXI opened at $1.56 on Friday. The company has a 50 day moving average price of $1.75 and a 200-day moving average price of $3.53. Avenue Therapeutics, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $11.34. The stock has a market capitalization of $26.13 million, a PE ratio of -2.74 and a beta of 0.61.

Avenue Therapeutics (NASDAQ:ATXI) last announced its quarterly earnings results on Sunday, August 15th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). On average, equities analysts expect that Avenue Therapeutics, Inc. will post -0.21 earnings per share for the current fiscal year.

About Avenue Therapeutics

Avenue Therapeutics, Inc is a specialty pharmaceutical company, which engages in acquiring, licensing, and commercializing products for use in the intensive care hospital setting. It focuses on the development of intravenous tramadol, a potential alternative that could reduce the use of conventional opioids for patients suffering from acute pain.

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Institutional Ownership by Quarter for Avenue Therapeutics (NASDAQ:ATXI)

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