Ascentage Pharma Group International (NASDAQ:AAPG) Stock Price Down 12.2% – Here’s What Happened

Ascentage Pharma Group International – Unsponsored ADR (NASDAQ:AAPG) traded down 12.2% during trading on Tuesday . The company traded as low as $28.70 and last traded at $28.71. 9,609 shares were traded during mid-day trading, a decline of 69% from the average session volume of 30,916 shares. The stock had previously closed at $32.71.

Analysts Set New Price Targets

Several research analysts recently commented on AAPG shares. Piper Sandler assumed coverage on shares of Ascentage Pharma Group International in a research note on Wednesday, November 5th. They issued an “overweight” rating and a $48.00 price target on the stock. BTIG Research started coverage on shares of Ascentage Pharma Group International in a research report on Monday, November 10th. They set a “buy” rating and a $50.00 target price on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $49.00.

Ascentage Pharma Group International Stock Performance

The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.53 and a current ratio of 1.54. The firm has a 50 day moving average price of $36.28 and a 200 day moving average price of $35.83.

Institutional Investors Weigh In On Ascentage Pharma Group International

Several hedge funds have recently modified their holdings of the business. Citadel Advisors LLC purchased a new position in Ascentage Pharma Group International during the third quarter valued at approximately $383,000. XY Capital Ltd boosted its position in Ascentage Pharma Group International by 224.2% during the 3rd quarter. XY Capital Ltd now owns 18,120 shares of the company’s stock valued at $707,000 after acquiring an additional 12,530 shares in the last quarter. UBS Group AG increased its holdings in shares of Ascentage Pharma Group International by 149.4% in the 3rd quarter. UBS Group AG now owns 18,345 shares of the company’s stock valued at $716,000 after acquiring an additional 10,988 shares during the period. ABC Arbitrage SA purchased a new position in shares of Ascentage Pharma Group International in the 3rd quarter valued at $204,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ascentage Pharma Group International in the 3rd quarter worth $96,000.

About Ascentage Pharma Group International

Ascentage Pharma Group International Co, Ltd. is a clinical-stage biotechnology company. It engages in the development of novel therapies for cancers, hepatitis B virus, or HBV, and age-related diseases. The company was founded by Da Jun Yang, Wang Shao Meng and Ming Guo in May 2009 and is headquartered in Suzhou, China.