Aquestive Therapeutics (NASDAQ:AQST) Shares Down 6.7% – Time to Sell?

Aquestive Therapeutics, Inc. (NASDAQ:AQST) shares fell 6.7% on Thursday. The company traded as low as $4.26 and last traded at $4.2990. Approximately 1,672,901 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 2,942,585 shares. The stock had previously closed at $4.61.

Analyst Ratings Changes

Several research firms have recently issued reports on AQST. Wall Street Zen raised shares of Aquestive Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of Aquestive Therapeutics in a research note on Thursday, September 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Aquestive Therapeutics in a research note on Friday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Aquestive Therapeutics in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $8.60.

Aquestive Therapeutics Stock Down 9.6%

The stock has a fifty day moving average of $4.74 and a 200-day moving average of $4.35. The stock has a market capitalization of $522.88 million, a price-to-earnings ratio of -6.44 and a beta of 1.49.

Aquestive Therapeutics (NASDAQ:AQST) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.08). The business had revenue of $13.82 million for the quarter, compared to the consensus estimate of $11.42 million. On average, equities analysts forecast that Aquestive Therapeutics, Inc. will post -0.50 EPS for the current fiscal year.

Insider Activity at Aquestive Therapeutics

In related news, CEO Daniel Barber sold 25,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $4.82, for a total value of $120,500.00. Following the transaction, the chief executive officer directly owned 652,317 shares of the company’s stock, valued at $3,144,167.94. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sherry Korczynski sold 8,750 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $5.22, for a total transaction of $45,675.00. Following the completion of the transaction, the insider directly owned 235,689 shares in the company, valued at $1,230,296.58. This trade represents a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aquestive Therapeutics

Several large investors have recently bought and sold shares of the stock. Blue Owl Capital Holdings LP purchased a new position in shares of Aquestive Therapeutics during the second quarter worth about $3,923,000. Latash Investments LLC acquired a new stake in shares of Aquestive Therapeutics during the second quarter worth about $1,011,000. Wasatch Advisors LP increased its position in shares of Aquestive Therapeutics by 57.8% during the second quarter. Wasatch Advisors LP now owns 1,385,843 shares of the company’s stock worth $5,765,000 after purchasing an additional 507,527 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Aquestive Therapeutics during the second quarter worth about $33,569,000. Finally, Walleye Capital LLC purchased a new stake in shares of Aquestive Therapeutics in the 2nd quarter valued at about $1,175,000. Institutional investors and hedge funds own 32.45% of the company’s stock.

About Aquestive Therapeutics

Aquestive Therapeutics, Inc is a pharmaceutical company that develops and commercializes medicines using proprietary drug-delivery technologies, including its PharmFilm platform. The company’s oral and buccal films are designed to dissolve in the mouth and may provide alternatives to conventional tablets, capsules, injections, or liquid formulations.

Aquestive’s commercial and partnered products have included treatments for neurological conditions. Its portfolio includes Libervant (diazepam buccal film) for seizure clusters, Exservan (riluzole oral film) for amyotrophic lateral sclerosis, and Sympazan (clonazepam oral film) for certain seizure disorders.