Bank of New York Mellon Corp Reduces Stock Position in Aquestive Therapeutics, Inc. (NASDAQ:AQST)

Bank of New York Mellon Corp decreased its stake in shares of Aquestive Therapeutics, Inc. (NASDAQ:AQST) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 171,681 shares of the company’s stock after selling 6,014 shares during the quarter. Bank of New York Mellon Corp owned about 0.19% of Aquestive Therapeutics worth $611,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AQST. Verition Fund Management LLC acquired a new stake in shares of Aquestive Therapeutics in the 3rd quarter worth $995,000. State Street Corp grew its holdings in shares of Aquestive Therapeutics by 52.1% in the third quarter. State Street Corp now owns 1,496,739 shares of the company’s stock valued at $7,454,000 after purchasing an additional 512,682 shares during the period. Harvey Capital Management Inc. increased its position in Aquestive Therapeutics by 1,419.3% during the fourth quarter. Harvey Capital Management Inc. now owns 267,390 shares of the company’s stock worth $952,000 after purchasing an additional 249,790 shares during the last quarter. Wellington Management Group LLP purchased a new position in Aquestive Therapeutics during the third quarter worth about $922,000. Finally, BNP Paribas Financial Markets boosted its holdings in Aquestive Therapeutics by 252.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,826 shares of the company’s stock valued at $94,000 after purchasing an additional 13,481 shares during the last quarter. Institutional investors and hedge funds own 32.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AQST. Lake Street Capital cut their price target on shares of Aquestive Therapeutics from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, March 7th. Alliance Global Partners reissued a “buy” rating on shares of Aquestive Therapeutics in a research note on Friday, March 7th. Cantor Fitzgerald started coverage on Aquestive Therapeutics in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $17.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Aquestive Therapeutics in a research report on Monday, March 10th. Finally, Raymond James set a $7.00 price objective on shares of Aquestive Therapeutics in a report on Friday, March 7th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $10.57.

Aquestive Therapeutics Trading Down 3.1 %

Shares of NASDAQ AQST opened at $3.12 on Thursday. The stock has a fifty day simple moving average of $2.99 and a 200-day simple moving average of $3.97. Aquestive Therapeutics, Inc. has a twelve month low of $2.24 and a twelve month high of $5.80. The stock has a market capitalization of $308.48 million, a PE ratio of -6.93 and a beta of 2.76.

Aquestive Therapeutics (NASDAQ:AQST) last released its earnings results on Wednesday, March 5th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The business had revenue of $11.87 million during the quarter, compared to the consensus estimate of $13.11 million. On average, equities analysts predict that Aquestive Therapeutics, Inc. will post -0.46 earnings per share for the current year.

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.