Ascentage Pharma Group International (NASDAQ:AAPG) Stock Price Down 7.7% – Here’s Why
by Michael Walen · The Markets DailyAscentage Pharma Group International – Unsponsored ADR (NASDAQ:AAPG – Get Free Report) shares were down 7.7% during mid-day trading on Thursday . The company traded as low as $22.10 and last traded at $22.20. Approximately 1,360 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 2,873 shares. The stock had previously closed at $24.05.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on AAPG. Oppenheimer initiated coverage on shares of Ascentage Pharma Group International in a report on Thursday, December 4th. They set an “outperform” rating and a $45.00 price objective on the stock. BTIG Research initiated coverage on shares of Ascentage Pharma Group International in a research report on Thursday, March 12th. They set a “buy” rating and a $48.00 price target for the company. Truist Financial set a $51.00 price target on Ascentage Pharma Group International in a research note on Monday, November 24th. Lucid Cap Mkts raised Ascentage Pharma Group International to a “strong-buy” rating in a research note on Monday, December 15th. Finally, Rodman & Renshaw assumed coverage on Ascentage Pharma Group International in a research report on Tuesday, January 13th. They set a “buy” rating and a $48.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, Ascentage Pharma Group International currently has a consensus rating of “Buy” and a consensus price target of $48.00.
View Our Latest Report on Ascentage Pharma Group International
Ascentage Pharma Group International Stock Performance
The company has a current ratio of 1.54, a quick ratio of 1.53 and a debt-to-equity ratio of 1.31. The business has a fifty day simple moving average of $24.88 and a 200 day simple moving average of $30.73.
Institutional Trading of Ascentage Pharma Group International
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new position in Ascentage Pharma Group International in the 2nd quarter valued at about $391,000. Tema Etfs LLC purchased a new stake in shares of Ascentage Pharma Group International during the second quarter worth about $610,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ascentage Pharma Group International in the third quarter valued at approximately $96,000. ABC Arbitrage SA acquired a new position in shares of Ascentage Pharma Group International in the third quarter valued at approximately $204,000. Finally, UBS Group AG lifted its stake in shares of Ascentage Pharma Group International by 149.4% during the third quarter. UBS Group AG now owns 18,345 shares of the company’s stock valued at $716,000 after buying an additional 10,988 shares during the period.
About Ascentage Pharma Group International
Ascentage Pharma Group International is a clinical‐stage biopharmaceutical company focused on developing small‐molecule therapeutics that modulate programmed cell death pathways, including the Bcl‐2 family and the MDM2–p53 axis. Its pipeline features orally bioavailable inhibitors such as APG-2575, a selective Bcl-2 inhibitor, and APG-115, a potent MDM2 antagonist, both aimed at reactivating apoptosis in cancer cells across hematologic malignancies and solid tumors.
Founded in 2008 by biotechnology entrepreneur Dr.