Aptinyx (APTX) Trading Up 7.9% on Better-Than-Expected Earnings

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Aptinyx Inc (NASDAQ:APTX) was up 7.9% on Friday following a better than expected earnings announcement. The company traded as high as $4.49 and last traded at $4.36. Approximately 632,878 shares were traded during mid-day trading, an increase of 57% from the average daily volume of 402,550 shares. The stock had previously closed at $4.04.

The company reported ($0.42) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.12. The business had revenue of $1.04 million for the quarter, compared to the consensus estimate of $1.10 million.

Several research firms have commented on APTX. Cantor Fitzgerald reiterated a “buy” rating and set a $40.00 price objective on shares of Aptinyx in a research report on Monday, December 3rd. Leerink Swann lowered their price objective on shares of Aptinyx from $35.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, January 17th. JPMorgan Chase & Co. lowered shares of Aptinyx from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $30.00 to $8.00 in a research report on Thursday, January 17th. BMO Capital Markets lowered their price objective on shares of Aptinyx to $18.00 and set an “outperform” rating for the company in a research report on Friday, January 18th. Finally, Zacks Investment Research upgraded shares of Aptinyx from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Monday, January 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Aptinyx currently has a consensus rating of “Buy” and an average price target of $13.20.

In other news, CFO Ashish Khanna bought 10,000 shares of Aptinyx stock in a transaction dated Friday, January 18th. The shares were acquired at an average price of $5.45 per share, with a total value of $54,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert J. Hombach purchased 25,000 shares of Aptinyx stock in a transaction that occurred on Friday, January 25th. The stock was bought at an average cost of $5.53 per share, for a total transaction of $138,250.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 36,050 shares of company stock worth $198,284.

Hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can purchased a new position in Aptinyx in the 4th quarter worth about $40,000. Legal & General Group Plc purchased a new position in Aptinyx during the 3rd quarter valued at about $58,000. Metropolitan Life Insurance Co. NY increased its position in Aptinyx by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,237 shares of the company’s stock valued at $120,000 after purchasing an additional 5,652 shares during the period. Barclays PLC increased its position in Aptinyx by 87.1% during the 4th quarter. Barclays PLC now owns 9,323 shares of the company’s stock valued at $154,000 after purchasing an additional 4,340 shares during the period. Finally, Wells Fargo & Company MN purchased a new position in Aptinyx during the 3rd quarter valued at about $185,000. 63.11% of the stock is currently owned by institutional investors.

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Aptinyx Company Profile (NASDAQ:APTX)

Aptinyx Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel, proprietary, and synthetic small molecules for the treatment of brain and nervous system disorders. It is developing NYX-2925 that is in Phase II clinical trial for the treatment of painful diabetic peripheral neuropathy, as well as in Phase II exploratory clinical trial for fibromyalgia; and NYX-783, an NMDAr receptor that is in Phase I clinical trial for the treatment of post-traumatic stress disorder.

See Also: Gross Domestic Product (GDP)

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