ESSA Pharma (NASDAQ:EPIX) Stock Price Passes Below Fifty Day Moving Average - What's Next?

Shares of ESSA Pharma Inc. (NASDAQ:EPIX - Get Free Report) TSE: EPI passed below its fifty day moving average during trading on Monday . The stock has a fifty 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 changing hands.

ESSA Pharma Stock Performance

The stock has a market capitalization of $70.13 million, a P/E ratio of -2.29 and a beta of 1.59. The firm's fifty day simple moving average is $1.70 and its 200 day simple moving average is $3.04.

ESSA Pharma (NASDAQ:EPIX - Get Free Report) TSE: EPI last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.01). Analysts anticipate that ESSA Pharma Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ESSA Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RTW Investments LP grew its holdings in shares of ESSA Pharma by 41.9% during the 3rd quarter. RTW Investments LP now owns 3,261,496 shares of the company's stock valued at $19,765,000 after purchasing an additional 962,834 shares during the last quarter. Parkman Healthcare Partners LLC boosted its position in ESSA Pharma by 37.2% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 345,902 shares of the company's stock worth $2,096,000 after buying an additional 93,830 shares during the period. FNY Investment Advisers LLC acquired a new stake in ESSA Pharma during the 4th quarter worth approximately $44,000. BML Capital Management LLC acquired a new stake in ESSA Pharma during the 4th quarter worth approximately $7,557,000. Finally, Magnus Financial Group LLC acquired a new stake in ESSA Pharma during the 4th quarter worth approximately $99,000. 75.12% of the stock is owned by institutional investors.

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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.