Clark Street Value sold 2/3rds of its position in Avenue Therapeutics Inc. (NASDAQ:ATXI) stock. Clark Street Value is an individual investor that is focused on finding value and special situation investments. Avenue Therapeutics Inc. (NASDAQ:ATXI) is a pharmaceutical company. In the last one year, Avenue Therapeutics Inc. (NASDAQ:ATXI) stock lost 31.1% and on January 5th it had a closing price of $6.14.
Clark Street Value sold 2/3rds of its position in Avenue Therapeutics Inc. (NASDAQ:ATXI) stock after receiving long term capital gains tax treatment. However, the investor sold the remaining shares at a loss as the company failed to receive FDA approval for IV tramadol. Clark Street Value added, “Their merger partner has moved to terminate the deal while ATXI is trying to fix their FDA submission, I’m far out of my comfort zone in trying to handicap the situation but could be an interesting idea for others more inclined.”
Our calculations showed that Avenue Therapeutics Inc. (NASDAQ:ATXI) isn’t ranked among the 30 most popular stocks among hedge funds.
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Video: Top 5 Stocks Among Hedge Funds
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