Shares are trading at $2.03 quite a bit lower than $3.55, the 50 day moving average and which is significantly lower than the 200 day moving average of $2.92. The 50 day moving average was down by -43.022% whereas the 200 day moving average was down $-0.89 or -30.563%. Trading volume for AcelRx Pharmaceuticals, Inc. was 2,456K in the last trading session. Overall, volume was up 713.11% over the stocks normal daily volume.
Investors are more bearish on AcelRx Pharmaceuticals, Inc. recently as inferred by the rise in short interest. The company saw a rise in short interest between September 15, 2017 and September 29, 2017 of 6.76%. Short shares grew 324,753 over that timeframe. With short interest at 5,132,301 and short average daily volume at 1,863,100, the short-interest ratio is 3.0 and the percentage of shorted shares was 0.11% on September 29.
There has been some buying insider activity on AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) recently. Director Mark G. Edwards disclosed the purchase of 5,000 shares. The shares sold for $2.96. The Director now owns $355,200 of the stock according to the SEC filing. Vincent J. Angotti, CEO purchased $45,000 worth of shares at an average price of $3.00 on Thu the 24th. That brings Angotti’s holdings to $45,000 as reported to the SEC.
CFO Raffi Asadorian acquired 7,000 shares at an average price of $3.24 on Mon the 11th. The CFO now owns $22,680 of the stock per an SEC filing yesterday.
These funds have shifted positions in (ACRX). As of the end of the quarter Malaga Cove Capital, LLC had bought 2,900 shares growing its position 28.3%. The value of the investment in (ACRX) decreased from $31,000 to $28,000 a change of 9.7% since the last quarter. Joel Isaacson & Co., LLC divested its position by selling 10,000 shares a decrease of 12.4% from 03/31/2017 to 06/30/2017. Joel Isaacson & Co., LLC owns 70,660 shares with a value of $152,000. The value of the position overall is down by 40.2%.
As of quarter end Creative Planning had disposed of a total of 3,000 shares trimming its stake by 16.9%. The value in dollars went from $38,000 to $68,000 increasing 78.9% quarter over quarter. As of the end of the quarter Meeder Asset Management Inc had disposed of 553 shares trimming its holdings by 33.1%. The value of the company’s investment in AcelRx Pharmaceuticals, Inc. went from $4,000 to $5,000 a change of $1,000 for the reporting period.
On October 13 the stock rating was downgraded from “Buy” to “Hold” by Jefferies.
As of the last earnings report the EPS was $-1.10 and is projected to be $-1.12 for the current year with 45,380,000 shares presently outstanding. Next quarter’s EPS is estimated at $-0.23 and the next full year EPS is projected to be $-0.94.
AcelRx Pharmaceuticals, Inc., launched on July 13, 2005, is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain. Its lead product candidates include ARX-04 and Zalviso, which utilizes sublingual sufentanil, delivered through a non-invasive route of administration. The Business’s product candidate pipeline also includes ARX-03, which is a single, fixed-dose, combination drug product designed to provide mild sedation, anxiety reduction and pain relief for patients undergoing painful procedures in a physician’s office. It also includes ARX-02, which is meant for the treatment of patients who suffer from breakthrough pain (BTP) due to cancer..