Millennium Management LLC recently announced the acquisition of new stake in Athenex Inc. (NASDAQ:ATNX). The institutional investor has increased its shareholding in the Healthcare company by 56.27% to 0.33 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 4.14% valued currently at $0.86 million. In addition, The Vanguard Group, Inc. raised its holdings by 62.0 to 0.27 million shares.
With over 0.88 million Athenex Inc. (ATNX) shares trading Tuesday and a closing price of $1.02 on the day, the dollar volume was approximately $0.9 million. The shares have shown a negative half year performance of -86.03% and its price on 03/21/23 lost nearly -19.05%. Currently, there are 6.97M common shares owned by the public and among those 6.31M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for ATNX have a consensus price objective of $24.17. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $2.50. The average price target is 97.65% above its recent price level and an upside to the estimated low will see the stock gain 59.2% over that period. But an upside of 97.45% will see the stock hit the forecast high price target while median target price for the stock is $30.00.
Insiders at the company have transacted a total of 82 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 78 of these insider trades were purchases, accounting for 1,043,108 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 12,796 shares.
The top 3 mutual fund holders in Athenex Inc. are Vanguard Total Stock Market Index, USAA Science & Technology Fund, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.17 million shares of the company’s stock, all valued at over $0.44 million. The company sold 1.0 shares recently to bring their total holdings to about 2.11% of the shares outstanding. USAA Science & Technology Fund sold 98974.0 shares to see its total holdings shrink to 0.14 million shares valued at over $0.37 million and representing 1.79% of the shares outstanding. Vanguard Extended Market Index Fu sold 1.0 shares to bring its total holdings to over 53257.0 shares at a value of $0.14 million. Vanguard Extended Market Index Fu now owns shares totaling to 0.68% of the shares outstanding.
Shares of Athenex Inc. (NASDAQ: ATNX) opened at $1.30, up $0.04 from a prior closing price of $1.26. However, the script later moved the day high at 1.3100, down -19.05%. The company’s stock has a 5-day price change of -47.96% and -56.93% over the past three months. ATNX shares are trading -65.42% year to date (YTD), with the 12-month market performance down to -94.63% lower. It has a 12-month low price of $1.24 and touched a high of $24.00 over the same period. ATNX has an average intraday trading volume of 127.06K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -56.78%, -68.48%, and -83.91% respectively.
Institutional ownership of Athenex Inc. (NASDAQ: ATNX) shares accounts for 37.10% of the company’s 6.97M shares outstanding. Mutual fund holders own 3.82%, while other institutional holders and individual stakeholders account for 6.27% and 20.13% respectively.
It has a market capitalization of $8.47M and a beta (3y monthly) value of 1.43. The earnings-per-share (ttm) stands at -$28.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 17.72% over the week and 11.39% over the month.
Analysts forecast that Athenex Inc. (ATNX) will achieve an EPS of -$0.09 for the current quarter, -$0.09 for the next quarter and -$0.39 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was -$0.95 a year ago. Earnings per share for the fiscal year are expected to decrease by -10.60%, and 41.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Athenex Inc. (ATNX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ATNX, a number of firms have released research notes about the stock. Truist stated their Hold rating for the stock in a research note on March 02, 2021, with the firm’s price target at $6. SVB Leerink coverage for the Athenex Inc. (ATNX) stock in a research note released on March 02, 2021 offered a Mkt Perform rating with a price target of $5. Oppenheimer was of a view on March 02, 2021 that the stock is Perform, while JP Morgan gave the stock Neutral rating on March 02, 2021, issuing a price target of $7. Needham on their part issued Hold rating on March 01, 2021.
