Aquinox Pharmaceuticals Inc. (AQXP) Sees Unusually-High Trading Volume Following Insider Buying Activity
Aquinox Pharmaceuticals Inc. (NASDAQ:AQXP) shares saw unusually-strong trading volume on Thursday following insider buying activity. Approximately 589,227 shares traded hands 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 bought 2,783,605 shares of Aquinox Pharmaceuticals stock in a transaction on Tuesday, September 20th. The shares were bought at an average cost of $12.25 per share, for a total transaction of $34,099,161.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by insiders.
A number of research firms have issued reports on AQXP. Zacks Investment Research lowered shares of Aquinox Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Canaccord Genuity reiterated a “buy” rating and set a $22.00 target price on shares of Aquinox Pharmaceuticals in a report on Wednesday, August 17th. Finally, Jefferies Group increased their target price on shares of Aquinox Pharmaceuticals from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Aquinox Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $19.86.
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The stock’s market cap is $256.46 million. The company’s 50 day moving average price is $10.77 and its 200 day moving average price is $8.69.
Aquinox Pharmaceuticals (NASDAQ:AQXP) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.22. On average, analysts anticipate that Aquinox Pharmaceuticals Inc. will post ($2.11) earnings per share for the current year.
Several large investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in Aquinox Pharmaceuticals by 1.8% in the second quarter. BlackRock Fund Advisors now owns 228,693 shares of the company’s stock worth $1,514,000 after buying an additional 3,977 shares during the last quarter. BlackRock Advisors LLC increased its stake in Aquinox Pharmaceuticals by 2.1% in the second quarter. BlackRock Advisors LLC now owns 404,575 shares of the company’s stock worth $2,678,000 after buying an additional 8,280 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 during the last quarter. Royce & Associates LP increased its stake in Aquinox Pharmaceuticals by 89.9% in the second quarter. Royce & Associates LP now owns 182,622 shares of the company’s stock worth $1,209,000 after buying an additional 86,455 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Aquinox Pharmaceuticals during the second quarter worth about $166,000. Institutional investors and hedge funds own 89.41% of the company’s stock.
Aquinox Pharmaceuticals Company Profile
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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