8,069,373 Shares in Aquestive Therapeutics, Inc. $AQST Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 8.07 million shares of Aquestive Therapeutics in the second quarter, worth about $33.6 million and representing a 6.43% stake. Institutional investors and hedge funds collectively own 32.45% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $8.80, although two firms recently issued sell-related ratings. HC Wainwright maintained a buy rating with a $10 target.
• AQST shares opened at $5.24, while the company’s latest quarterly results showed an adjusted loss of $0.18 per share—below expectations—but revenue of $13.82 million exceeded estimates.

BlackRock Inc. bought a new position in Aquestive Therapeutics, Inc. (NASDAQ:AQST - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,069,373 shares of the company's stock, valued at approximately $33,569,000. BlackRock Inc. owned 6.43% of Aquestive Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC purchased a new position in shares of Aquestive Therapeutics during the 3rd quarter worth $28,000. BNP Paribas Financial Markets grew its position in shares of Aquestive Therapeutics by 78.3% in the second quarter. BNP Paribas Financial Markets now owns 9,413 shares of the company's stock valued at $31,000 after purchasing an additional 4,134 shares during the period. Modern Wealth Management LLC purchased a new stake in shares of Aquestive Therapeutics in the second quarter valued at $33,000. Elevation Point Wealth Partners LLC acquired a new position in Aquestive Therapeutics in the first quarter valued at $42,000. Finally, ADAR1 Capital Management LLC increased its stake in Aquestive Therapeutics by 103.9% in the first quarter. ADAR1 Capital Management LLC now owns 10,000 shares of the company's stock valued at $42,000 after purchasing an additional 264,000 shares during the last quarter. 32.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AQST shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Aquestive Therapeutics in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Aquestive Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, HC Wainwright reiterated a "buy" rating and set a $10.00 price objective on shares of Aquestive Therapeutics in a report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $8.80.

Insider Buying and Selling

In other news, Director Julie Krop sold 25,000 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $5.02, for a total value of $125,500.00. Following the transaction, the director directly owned 25,000 shares in the company, valued at $125,500. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.81% of the stock is owned by corporate insiders.

Aquestive Therapeutics Stock Up 2.5%

Shares of NASDAQ AQST opened at $5.24 on Wednesday. Aquestive Therapeutics, Inc. has a 52-week low of $2.93 and a 52-week high of $7.55. The firm has a fifty day moving average of $4.25 and a 200-day moving average of $4.18. The stock has a market capitalization of $657.68 million, a PE ratio of -8.06 and a beta of 1.49.

Aquestive Therapeutics (NASDAQ:AQST - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.08). The firm had revenue of $13.82 million during the quarter, compared to analyst estimates of $11.42 million. Equities research analysts expect that Aquestive Therapeutics, Inc. will post -0.5 EPS for the current fiscal year.

Aquestive Therapeutics Profile

Aquestive Therapeutics, Inc is a specialty pharmaceutical company focused on the development and commercialization of novel drug delivery systems. Leveraging its proprietary PharmFilm® technology, Aquestive designs thin-film formulations that facilitate sublingual, buccal and oral delivery of small molecules, offering rapid onset of action and improved patient compliance compared with traditional dosage forms.

The company's lead product, Libervant® (diazepam) Buccal Film, is approved by the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source