Aquinox Pharmaceuticals Inc. (NASDAQ:AQXP) saw unusually-strong trading volume on Thursday after an insider bought additional shares in the company. Approximately 589,227 shares were traded during trading, an increase of 19% from the previous session’s volume of 496,651 shares.The stock last traded at $14.25 and had previously closed at $13.63.
Specifically, major shareholder Bros. Advisors Lp Baker acquired 2,783,605 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were acquired at an average cost of $12.25 per share, with a total value of $34,099,161.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.00% of the company’s stock.
AQXP has been the topic of several recent research reports. Canaccord Genuity restated a “buy” rating and set a $22.00 price target on shares of Aquinox Pharmaceuticals in a report on Wednesday, August 17th. Jefferies Group increased their price target on Aquinox Pharmaceuticals from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Zacks Investment Research lowered Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Aquinox Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $19.86.
The firm’s market cap is $254.22 million. The firm has a 50 day moving average price of $11.09 and a 200-day moving average price of $8.77.
Aquinox Pharmaceuticals (NASDAQ:AQXP) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.41) by $0.22. Equities research analysts expect that Aquinox Pharmaceuticals Inc. will post ($2.23) EPS for the current year.
Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can purchased a new stake in shares of Aquinox Pharmaceuticals during the second quarter worth about $166,000. Bridgeway Capital Management Inc. raised its stake in shares of Aquinox Pharmaceuticals by 416.7% in the second quarter. Bridgeway Capital Management Inc. now owns 62,000 shares of the company’s stock worth $410,000 after buying an additional 50,000 shares in the last quarter. BlackRock Inc. raised its stake in shares of Aquinox Pharmaceuticals by 24.3% in the first quarter. BlackRock Inc. now owns 50,600 shares of the company’s stock worth $446,000 after buying an additional 9,900 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Aquinox Pharmaceuticals by 21.8% in the first quarter. Geode Capital Management LLC now owns 62,949 shares of the company’s stock worth $555,000 after buying an additional 11,268 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Aquinox Pharmaceuticals by 2.0% in the second quarter. Vanguard Group Inc. now owns 110,529 shares of the company’s stock worth $731,000 after buying an additional 2,197 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors.
About Aquinox Pharmaceuticals
Aquinox Pharmaceuticals, Inc is a clinical-stage pharmaceutical company discovering and developing targeted therapeutics in disease areas of inflammation and immuno-oncology. The Company operates in the segment of identification and development of therapeutics in disease areas of inflammation and immuno-oncology.
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