Aquestive Therapeutics (NASDAQ:AQST) Trading Down 9% – Here’s What Happened

Shares of Aquestive Therapeutics, Inc. (NASDAQ:AQST) were down 9% on Monday . The company traded as low as $6.33 and last traded at $6.2050. Approximately 952,972 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 1,935,020 shares. The stock had previously closed at $6.82.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AQST. Zacks Research raised shares of Aquestive Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. JMP Securities lifted their target price on shares of Aquestive Therapeutics from $9.00 to $12.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aquestive Therapeutics in a research note on Wednesday, October 8th. Lifesci Capital raised Aquestive Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Citigroup restated an “outperform” rating on shares of Aquestive Therapeutics in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.33.

Aquestive Therapeutics Trading Down 5.2%

The firm has a market capitalization of $644.62 million, a P/E ratio of -9.22 and a beta of 1.77. The firm has a 50 day moving average price of $5.65 and a 200-day moving average price of $4.17.

Aquestive Therapeutics (NASDAQ:AQST) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. The company had revenue of $10.00 million during the quarter, compared to the consensus estimate of $11.32 million. Aquestive Therapeutics has set its FY 2025 guidance at EPS. Research analysts anticipate that Aquestive Therapeutics, Inc. will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Daniel Barber sold 91,343 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $6.03, for a total value of $550,798.29. Following the sale, the chief executive officer directly owned 923,430 shares in the company, valued at approximately $5,568,282.90. This represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Carl N. Kraus sold 20,272 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $141,904.00. Following the sale, the insider directly owned 282,475 shares of the company’s stock, valued at $1,977,325. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 276,770 shares of company stock worth $1,692,203 over the last three months. 8.35% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aquestive Therapeutics

Institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. bought a new stake in Aquestive Therapeutics during the 1st quarter valued at $33,000. Harvey Capital Management Inc. raised its stake in Aquestive Therapeutics by 86.8% in the first quarter. Harvey Capital Management Inc. now owns 499,570 shares of the company’s stock worth $1,449,000 after buying an additional 232,180 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Aquestive Therapeutics by 47.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 47,553 shares of the company’s stock valued at $138,000 after acquiring an additional 15,205 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Aquestive Therapeutics in the 1st quarter valued at $31,000. Finally, Summit Wealth & Retirement Planning Inc. bought a new position in shares of Aquestive Therapeutics in the 1st quarter worth $29,000. 32.45% of the stock is owned by hedge funds and other institutional investors.

Aquestive Therapeutics Company Profile

Aquestive Therapeutics, Inc operates as a pharmaceutical company in the United States and internationally. The company markets Sympazan, an oral soluble film formulation of clobazam for the treatment of lennox-gastaut syndrome; Suboxone, a sublingual film formulation of buprenorphine and naloxone for the treatment of opioid dependence; Zuplenz, an oral soluble film formulation of ondansetron for the treatment of nausea and vomiting associated with chemotherapy and post-operative recovery; and Azstarys, a once-daily product for the treatment of attention deficit hyperactivity disorder.