Athenex (ATNX) Stock Price Up 6.3% Following Insider Buying Activity
Athenex Inc (NASDAQ:ATNX)’s share price rose 6.3% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $15.32 and last traded at $15.01. Approximately 551,113 shares were traded during trading, an increase of 46% from the average daily volume of 378,528 shares. The stock had previously closed at $14.12.
Specifically, Director Manson Fok purchased 30,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were purchased at an average price of $14.31 per share, for a total transaction of $429,300.00. Following the completion of the acquisition, the director now directly owns 1,799,609 shares in the company, valued at approximately $25,752,404.79. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jinn Wu purchased 10,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $13.64 per share, for a total transaction of $136,400.00. Following the acquisition, the director now owns 249,208 shares of the company’s stock, valued at $3,399,197.12. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 60,000 shares of company stock worth $853,700.
Several equities research analysts recently issued reports on ATNX shares. JPMorgan Chase & Co. started coverage on shares of Athenex in a report on Wednesday, October 18th. They issued a “neutral” rating and a $22.20 target price on the stock. BidaskClub cut shares of Athenex from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Deutsche Bank set a $20.00 target price on shares of Athenex and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $27.80.
Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC purchased a new stake in Athenex in the fourth quarter worth approximately $161,000. California State Teachers Retirement System purchased a new stake in Athenex in the third quarter worth approximately $198,000. Bank of New York Mellon Corp purchased a new stake in Athenex in the second quarter worth approximately $240,000. Virtus Fund Advisers LLC purchased a new stake in Athenex in the fourth quarter worth approximately $333,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Athenex in the third quarter worth approximately $524,000. Institutional investors own 2.65% of the company’s stock.
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Athenex, Inc is an oncology pharmaceutical company focused on the development and commercialization of therapies for cancer diseases and supportive therapies. The Company’s technology platform is organized into three categories, including Oral Absorption Platform, Src Kinase Inhibitors and Symptom Therapeutics.
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