ESSA Pharma Inc. (NASDAQ:EPIX) Sees Large Decrease in Short Interest

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 802,800 shares, a decline of 13.5% from the March 15th total of 928,600 shares. Based on an average daily trading volume, of 154,100 shares, the days-to-cover ratio is presently 5.2 days.

ESSA Pharma Trading Up 1.8 %

Shares of EPIX stock traded up $0.13 during trading hours on Tuesday, reaching $7.43. 17,099 shares of the stock were exchanged, compared to its average volume of 141,466. ESSA Pharma has a 12-month low of $2.56 and a 12-month high of $11.67. The firm has a market capitalization of $328.70 million, a price-to-earnings ratio of -12.59 and a beta of 1.62. The company’s 50-day moving average price is $8.82 and its 200-day moving average price is $6.94.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. On average, sell-side analysts expect that ESSA Pharma will post -0.8 EPS for the current year.

Institutional Trading of ESSA Pharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rock Springs Capital Management LP lifted its position in shares of ESSA Pharma by 2.1% in the 3rd quarter. Rock Springs Capital Management LP now owns 677,005 shares of the company’s stock worth $2,092,000 after purchasing an additional 13,688 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of ESSA Pharma by 582.3% in the 1st quarter. JPMorgan Chase & Co. now owns 59,706 shares of the company’s stock valued at $177,000 after acquiring an additional 50,955 shares during the period. Jane Street Group LLC bought a new position in shares of ESSA Pharma in the 1st quarter worth $154,000. Cubist Systematic Strategies LLC boosted its position in ESSA Pharma by 86.0% during the third quarter. Cubist Systematic Strategies LLC now owns 55,614 shares of the company’s stock valued at $101,000 after purchasing an additional 25,715 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in ESSA Pharma during the second quarter valued at about $81,000. Institutional investors own 75.12% of the company’s stock.

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.