Entasis Therapeutics (NASDAQ:ETTX) Announces Earnings Results

Entasis Therapeutics (NASDAQ:ETTXGet Rating) announced its quarterly earnings results on Wednesday. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09), MarketWatch Earnings reports.

Shares of ETTX stock traded up $0.04 during trading on Thursday, hitting $1.90. The company had a trading volume of 18,054 shares, compared to its average volume of 220,362. The firm has a market capitalization of $90.92 million, a P/E ratio of -1.74 and a beta of 1.60. The stock’s 50-day moving average price is $1.83 and its 200 day moving average price is $2.17. Entasis Therapeutics has a one year low of $1.40 and a one year high of $3.88.

A number of brokerages have recently issued reports on ETTX. Zacks Investment Research cut Entasis Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, March 10th. HC Wainwright cut Entasis Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $6.00 to $1.80 in a report on Friday, March 4th. Alliance Global Partners cut Entasis Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, March 16th. Finally, Wedbush cut Entasis Therapeutics from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $1.80 in a report on Tuesday, March 8th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.15.

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its stake in Entasis Therapeutics by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 323,345 shares of the company’s stock worth $708,000 after purchasing an additional 10,800 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Entasis Therapeutics by 10.5% during the fourth quarter. Geode Capital Management LLC now owns 102,927 shares of the company’s stock worth $225,000 after buying an additional 9,759 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Entasis Therapeutics by 214.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 81,904 shares of the company’s stock worth $179,000 after buying an additional 55,834 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Entasis Therapeutics during the fourth quarter worth $143,000. Finally, Jane Street Group LLC acquired a new position in shares of Entasis Therapeutics during the third quarter worth $107,000. Institutional investors and hedge funds own 9.27% of the company’s stock.

Entasis Therapeutics Company Profile (Get Rating)

Entasis Therapeutics Holdings Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibacterial products to treat serious infections caused by multidrug-resistant pathogens in the United States. Its lead product candidate is sulbactam-durlobactam (SUL-DUR), a novel IV antibiotic that is in Phase III clinical trial for the treatment of pneumonia and bloodstream infections caused by carbapenem-resistant Acinetobacter baumannii.

See Also

Earnings History for Entasis Therapeutics (NASDAQ:ETTX)

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