ESSA Pharma (NASDAQ:EPIX) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.96 and traded as low as $5.01. ESSA Pharma shares last traded at $5.20, with a volume of 27,568 shares trading hands.

ESSA Pharma Price Performance

The stock has a 50 day moving average price of $5.88 and a two-hundred day moving average price of $5.70. The firm has a market capitalization of $62.12 million, a price-to-earnings ratio of -2.26 and a beta of 1.83.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last released its earnings results on Monday, August 5th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.10. As a group, research analysts expect that ESSA Pharma Inc. will post -0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ESSA Pharma stock. Janus Henderson Group PLC lifted its position in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,175,242 shares of the company’s stock after purchasing an additional 85,760 shares during the quarter. Janus Henderson Group PLC owned approximately 2.66% of ESSA Pharma worth $9,978,000 at the end of the most recent quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

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.