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

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI)’s share price 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 business has a fifty 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 posted 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. On average, research analysts predict that ESSA Pharma Inc. will post -0.71 earnings per share for the current year.

Hedge Funds Weigh In On ESSA Pharma

A hedge fund recently bought a new stake in ESSA Pharma stock. EntryPoint Capital LLC bought a new position in shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,420 shares of the company’s stock, valued at approximately $38,000. 75.12% of the stock is owned by hedge funds and other institutional investors.

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.