Avenue Therapeutics (NASDAQ:ATXI) Stock Price Down 3.4% – Here’s Why

Avenue Therapeutics, Inc. (NASDAQ:ATXI) dropped 3.4% during trading on Thursday . The stock traded as low as $0.3188 and last traded at $0.3188. 130 shares changed hands during trading, a decline of 98% from the average session volume of 5,622 shares. The stock had previously closed at $0.33.

Avenue Therapeutics Stock Down 3.4%

The stock has a market capitalization of $1.05 million, a P/E ratio of 0.02 and a beta of -0.17. The firm’s 50 day simple moving average is $0.35 and its two-hundred day simple moving average is $0.38.

About Avenue Therapeutics

Avenue Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for disorders of the central nervous system, with an initial emphasis on acute pain management. The company’s research and development efforts are centered on reformulating established active pharmaceutical ingredients to address unmet needs in hospital and outpatient settings, aiming to improve safety profiles, reduce opioid exposure and support enhanced patient recovery.

The company’s lead product candidate is intravenous tramadol, a unique non-solicited opioid analgesic that combines dual mechanisms of action to manage moderate to severe acute pain.