Propel Bio Management LLC Takes $1.16 Million Position in Milestone Pharmaceuticals Inc. $MIST

Key Points

• Propel Bio Management LLC acquired a new stake in Milestone Pharmaceuticals Inc., buying 1,451,557 shares valued at approximately $1,161,000, making it the fund's 13th largest holding.
• Milestone Pharmaceuticals reported a loss of ($0.20) earnings per share, missing analysts' estimates, while analysts project a future EPS of -0.62 for the current fiscal year.
• HC Wainwright upgraded Milestone Pharmaceuticals to a "buy" rating with a new price target of $5.00, reflecting a consensus outlook of "Hold" from analysts.

Propel Bio Management LLC acquired a new position in shares of Milestone Pharmaceuticals Inc. (NASDAQ:MIST - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,451,557 shares of the company's stock, valued at approximately $1,161,000. Milestone Pharmaceuticals makes up approximately 1.3% of Propel Bio Management LLC's investment portfolio, making the stock its 13th largest position. Propel Bio Management LLC owned about 2.72% of Milestone Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank purchased a new position in Milestone Pharmaceuticals in the 4th quarter valued at approximately $1,770,000. Walleye Capital LLC purchased a new stake in Milestone Pharmaceuticals during the first quarter valued at about $74,000. Northern Trust Corp grew its stake in shares of Milestone Pharmaceuticals by 112.6% during the fourth quarter. Northern Trust Corp now owns 58,108 shares of the company's stock valued at $137,000 after buying an additional 30,772 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Milestone Pharmaceuticals by 52.7% during the first quarter. XTX Topco Ltd now owns 52,004 shares of the company's stock valued at $42,000 after buying an additional 17,950 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Milestone Pharmaceuticals during the fourth quarter valued at about $73,000. 86.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised shares of Milestone Pharmaceuticals to a "buy" rating and set a $5.00 price objective on the stock in a research report on Thursday, June 5th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $5.00.

Milestone Pharmaceuticals Price Performance

Shares of Milestone Pharmaceuticals stock traded up $0.01 on Friday, hitting $1.79. 509,622 shares of the company traded hands, compared to its average volume of 1,689,948. The stock has a market capitalization of $151.71 million, a P/E ratio of -2.13 and a beta of 0.60. The company has a debt-to-equity ratio of 4.06, a quick ratio of 4.97 and a current ratio of 4.97. Milestone Pharmaceuticals Inc. has a 52 week low of $0.63 and a 52 week high of $2.75. The business has a 50-day simple moving average of $1.71 and a 200 day simple moving average of $1.56.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.02). Research analysts expect that Milestone Pharmaceuticals Inc. will post -0.62 earnings per share for the current fiscal year.

Milestone Pharmaceuticals Profile

Milestone Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of cardiovascular medicines. The company's lead product candidate is etripamil, a novel and potent calcium channel blocker, which is in Phase III clinical trial for the treatment of paroxysmal supraventricular tachycardia in the United States and Canada; and Phase II clinical trial for the treatment of atrial fibrillation and rapid ventricular rate.