57K shares changed hands on Tuesday. Shares saw a steep decrease in trading volume of 84.31% under the normal average daily volume.
Investors are more bullish on shares of the company if you consider the fall in short interest. The stock had a fall in short interest of -6.39% as of the latest report on October 13, 2017. Short shares decreased from 1,368,021 to 1,280,635 over that timeframe. The short-interest ratio decreased to 3.0 and the percentage of shorted shares is 0.08% as of October 13.
These firms have modified their investment in OREX. As of the end of the quarter Citadel Advisors LLC had sold a total of 232 shares trimming its holdings by 1.1%. The value of the company’s investment in Orexigen Therapeutics, Inc. increased from $12,000 to $61,000 increasing 408.3% quarter to quarter. As of quarter end Bank Of Montreal /can/ had acquired 5,500 shares growing its position 8.0%. The value of the investment in OREX went from $199,000 to $157,000 a change of $42,000 quarter over quarter.
Simplex Trading, LLC added to its investment by buying 8,011 shares an increase of 86.2% as of 09/30/2017. Simplex Trading, LLC now controls 17,303 shares with a value of $36,000. The total value of its holdings increased 38.5%.
The company is now down by 2.99% since yesterday’s close of $1.62. The stock is trading at $1.62 well below the 50 day moving average which is $2.02 and which is much lower than the 200 day moving average of $2.59. The 50 day moving average went down $-0.40 or -19.68% and the 200 day average was down $-0.97.
As of the latest earnings report the EPS was $-5.17 and is estimated to be $-9.37 for the current year with 15,430,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $-1.96 with next year’s EPS projected to be $-5.59.
Orexigen Therapeutics, Inc., launched on September 12, 2002, is a biopharmaceutical company. The Company is focused on the treatment of obesity. The Business’s product, Contrave, is approved in the United States by the United States Food and Drug Administration as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adults with an initial body mass index (BMI) of 30 kilograms per square meter or greater (obese) or 27 kilograms per square meter or greater (overweight) in the presence of a weight-related comorbid condition..