Avenue Therapeutics (NASDAQ:ATXI) Stock Price Up 20.7% – Should You Buy?

Avenue Therapeutics, Inc. (NASDAQ:ATXI) shares rose 20.7% during mid-day trading on Tuesday . The company traded as high as $0.3807 and last traded at $0.35. Approximately 6,078 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 8,382 shares. The stock had previously closed at $0.29.

Avenue Therapeutics Trading Up 20.7%

The stock has a market cap of $1.15 million, a price-to-earnings ratio of 0.02 and a beta of -0.93. The stock has a fifty day simple moving average of $0.24 and a 200-day simple moving average of $0.55.

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.