ESSA Pharma (NASDAQ:EPIX) Shares Cross Below Fifty Day Moving Average – Here’s Why

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.93 and traded as low as $5.00. ESSA Pharma shares last traded at $5.37, with a volume of 89,307 shares changing hands.

ESSA Pharma Price Performance

The firm’s 50 day moving average is $5.96 and its two-hundred day moving average is $5.81. The firm has a market capitalization of $246.21 million, a P/E ratio of -8.81 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) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.10. Analysts anticipate that ESSA Pharma Inc. will post -0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On ESSA Pharma

An institutional investor recently bought a new position in ESSA Pharma stock. EntryPoint Capital LLC bought a new stake in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,420 shares of the company’s stock, valued at approximately $38,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

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.