ESSA Pharma (NASDAQ:EPIX) Shares Pass Below Fifty Day Moving Average – Should You Sell?

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.71 and traded as low as $1.70. ESSA Pharma shares last traded at $1.73, with a volume of 67,146 shares changing hands.

ESSA Pharma Stock Up 2.4%

The stock has a market cap of $76.79 million, a price-to-earnings ratio of -2.75 and a beta of 1.58. The stock’s fifty day moving average is $1.71 and its 200-day moving average is $1.68.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. As a group, equities research analysts predict that ESSA Pharma Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EPIX. Tang Capital Management LLC acquired a new position in ESSA Pharma during the fourth quarter valued at approximately $7,697,000. BML Capital Management LLC bought a new position in ESSA Pharma in the fourth quarter valued at approximately $7,557,000. Altium Capital Management LLC bought a new position in ESSA Pharma in the fourth quarter valued at approximately $2,556,000. Bank of America Corp DE lifted its stake in ESSA Pharma by 10,153,775.0% in the fourth quarter. Bank of America Corp DE now owns 812,310 shares of the company’s stock valued at $1,454,000 after buying an additional 812,302 shares in the last quarter. Finally, Aldebaran Capital LLC bought a new position in ESSA Pharma in the fourth quarter valued at approximately $712,000. Institutional investors and hedge funds 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.