Ascentage Pharma Group International (NASDAQ:AAPG) Shares Gap Up – Here’s Why

Ascentage Pharma Group International – Unsponsored ADR (NASDAQ:AAPG) gapped up prior to trading on Thursday . The stock had previously closed at $16.90, but opened at $18.42. Ascentage Pharma Group International shares last traded at $18.2810, with a volume of 3,583 shares trading hands.

Wall Street Analysts Forecast Growth

AAPG has been the topic of a number of analyst reports. B. Riley Financial assumed coverage on shares of Ascentage Pharma Group International in a report on Wednesday, June 10th. They set a “buy” rating and a $45.00 price objective on the stock. BTIG Research reissued a “buy” rating and set a $48.00 price target on shares of Ascentage Pharma Group International in a research report on Friday, August 21st. Finally, Raymond James Financial restated a “buy” rating on shares of Ascentage Pharma Group International in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, Ascentage Pharma Group International has a consensus rating of “Buy” and a consensus target price of $46.43.

Ascentage Pharma Group International Price Performance

The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average of $18.18 and a 200 day moving average of $21.04.

Ascentage Pharma Group International (NASDAQ:AAPG) last issued its quarterly earnings results on Wednesday, August 19th. The company reported ($0.65) EPS for the quarter. The company had revenue of $22.24 million during the quarter. On average, equities research analysts predict that Ascentage Pharma Group International – Unsponsored ADR will post -2.26 EPS for the current year.

Hedge Funds Weigh In On Ascentage Pharma Group International

A number of hedge funds and other institutional investors have recently made changes to their positions in AAPG. UBS Group AG boosted 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 worth $716,000 after buying an additional 10,988 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Ascentage Pharma Group International during the second quarter worth about $391,000. Finally, Citadel Advisors LLC bought a new stake in Ascentage Pharma Group International in the third quarter worth about $383,000.

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.