Milestone Pharmaceuticals (NASDAQ:MIST) Shares Down 8.1% – Here’s Why

Shares of Milestone Pharmaceuticals Inc. (NASDAQ:MIST) dropped 8.1% during mid-day trading on Thursday . The stock traded as low as $2.17 and last traded at $2.17. Approximately 985,561 shares changed hands during mid-day trading, an increase of 281% from the average daily volume of 258,721 shares. The stock had previously closed at $2.36.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Milestone Pharmaceuticals in a research report on Monday, October 14th.

Milestone Pharmaceuticals Price Performance

The company has a quick ratio of 15.40, a current ratio of 15.40 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $117.32 million, a price-to-earnings ratio of -2.72 and a beta of 1.83. The business’s 50 day simple moving average is $1.84 and its 200-day simple moving average is $1.59.

Milestone Pharmaceuticals (NASDAQ:MIST) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.04. On average, research analysts forecast that Milestone Pharmaceuticals Inc. will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. PVG Asset Management Corp bought a new stake in Milestone Pharmaceuticals during the 3rd quarter worth $46,000. BML Capital Management LLC grew its holdings in Milestone Pharmaceuticals by 3.0% during the 3rd quarter. BML Capital Management LLC now owns 1,136,091 shares of the company’s stock worth $1,727,000 after acquiring an additional 33,196 shares during the last quarter. Atria Investments Inc increased its position in Milestone Pharmaceuticals by 44.4% in the 3rd quarter. Atria Investments Inc now owns 40,421 shares of the company’s stock valued at $61,000 after acquiring an additional 12,430 shares during the period. Valeo Financial Advisors LLC raised its stake in shares of Milestone Pharmaceuticals by 100.0% during the third quarter. Valeo Financial Advisors LLC now owns 20,000 shares of the company’s stock valued at $30,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Lion Point Capital LP lifted its holdings in shares of Milestone Pharmaceuticals by 1.7% during the second quarter. Lion Point Capital LP now owns 2,340,207 shares of the company’s stock worth $3,089,000 after purchasing an additional 40,000 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

About Milestone Pharmaceuticals

Milestone Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of cardiovascular medicines. The company's lead product candidate is etripamil, a novel and potent calcium channel blocker, which is in Phase III clinical trial for the treatment of paroxysmal supraventricular tachycardia in the United States and Canada; and Phase II clinical trial for the treatment of atrial fibrillation and rapid ventricular rate.