Bank of America Corp DE Acquires 1,197,459 Shares of Aquestive Therapeutics, Inc. $AQST

Key Points

• Bank of America nearly doubled its Aquestive Therapeutics stake in the first quarter, acquiring 1,197,459 shares and bringing its total ownership to 2.41 million shares, or 1.92% of the company.
• AQST shares opened at $4.66, with a market capitalization of approximately $585 million. The company reported quarterly revenue of $13.82 million, exceeding estimates, but its $0.18 per-share loss was wider than expected.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and an $8.50 consensus price target, despite recent sell ratings and an insider sale of 25,000 shares.

Bank of America Corp DE lifted its stake in shares of Aquestive Therapeutics, Inc. (NASDAQ:AQST - Free Report) by 99.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,405,050 shares of the company's stock after purchasing an additional 1,197,459 shares during the period. Bank of America Corp DE owned 1.92% of Aquestive Therapeutics worth $9,981,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC purchased a new stake in Aquestive Therapeutics during the 3rd quarter worth about $28,000. BNP Paribas Financial Markets lifted its position in 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 last quarter. Modern Wealth Management LLC purchased a new stake in shares of Aquestive Therapeutics during the second quarter worth about $33,000. Elevation Point Wealth Partners LLC bought a new position in shares of Aquestive Therapeutics during the first quarter valued at approximately $42,000. Finally, ADAR1 Capital Management LLC boosted its position in Aquestive Therapeutics by 103.9% during the 1st quarter. ADAR1 Capital Management LLC now owns 10,000 shares of the company's stock valued at $42,000 after acquiring an additional 264,000 shares in the last quarter. 32.45% of the stock is currently owned by hedge funds and other institutional investors.

Aquestive Therapeutics Stock Performance

Shares of NASDAQ AQST opened at $4.66 on Monday. The firm has a 50 day moving average of $4.18 and a 200 day moving average of $4.12. The firm has a market capitalization of $584.89 million, a price-to-earnings ratio of -7.17 and a beta of 1.49. Aquestive Therapeutics, Inc. has a 12-month low of $2.93 and a 12-month high of $7.55.

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

Insider Activity

In other news, Director Julie Krop sold 25,000 shares of Aquestive Therapeutics stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $5.02, for a total transaction of $125,500.00. Following the sale, the director owned 25,000 shares in the company, valued at $125,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aquestive Therapeutics in a research note on Friday, July 17th. Wall Street Zen lowered Aquestive Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $8.50.

About Aquestive Therapeutics

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.

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