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Is Avenue Therapeutics (ATXI) Stock a Buy For 2021?

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."

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Our calculations showed that Avenue Therapeutics Inc. (NASDAQ:ATXI) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.