Ascentage Pharma Group International (NASDAQ:AAPG) Sets New 1-Year High - Here's What Happened

Key Points

• Shares of Ascentage Pharma Group International reached a new 52-week high of $45.00 during trading, with a notable increase of 4.7% from the previous close.
• The company has attracted interest from institutional investors, with multiple hedge funds acquiring new positions in the stock, totaling significant investments from firms such as Monashee Investment Management and HSBC Holdings.
• Ascentage Pharma is a clinical-stage biotechnology company focused on developing therapies for cancer, hepatitis B, and age-related diseases, based in Suzhou, China.

Ascentage Pharma Group International - Unsponsored ADR (NASDAQ:AAPG - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $45.00 and last traded at $45.00, with a volume of 2063 shares. The stock had previously closed at $42.45.

Ascentage Pharma Group International Stock Up 1.7%

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.24. The business has a fifty day moving average price of $39.53.

Hedge Funds Weigh In On Ascentage Pharma Group International

Hedge funds have recently modified their holdings of the stock. Chevy Chase Trust Holdings LLC acquired a new position in shares of Ascentage Pharma Group International during the second quarter valued at about $227,000. Hsbc Holdings PLC acquired a new position in shares of Ascentage Pharma Group International during the second quarter valued at about $391,000. Tema Etfs LLC acquired a new position in shares of Ascentage Pharma Group International during the second quarter valued at about $610,000. Finally, Monashee Investment Management LLC acquired a new position in shares of Ascentage Pharma Group International during the first quarter valued at about $3,511,000.

Ascentage Pharma Group International Company Profile

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.