Ascentage Pharma Group International (NASDAQ:AAPG) Shares Gap Down - Here's What Happened

Key Points

• Ascentage Pharma Group International shares dropped from $40.23 to $38.58 prior to trading, and last traded at $38.30.
• The company has a quick ratio of 1.53 and a current ratio of 1.54, indicating solid liquidity performance.
• Multiple institutional investors, including Chevy Chase Trust and HSBC Holdings, acquired new stakes in Ascentage Pharma during the second quarter, totaling several million dollars.

Ascentage Pharma Group International - Unsponsored ADR (NASDAQ:AAPG - )'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $40.23, but opened at $38.58. Ascentage Pharma Group International shares last traded at $38.30, with a volume of 887 shares trading hands.

Ascentage Pharma Group International Stock Performance

The company has a quick ratio of 1.53, a current ratio of 1.54 and a debt-to-equity ratio of 1.31. The stock has a 50 day simple moving average of $40.85 and a two-hundred day simple moving average of $33.02.

Institutional Trading of Ascentage Pharma Group International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Chevy Chase Trust Holdings LLC acquired a new stake in Ascentage Pharma Group International in the second quarter valued at $227,000. Hsbc Holdings PLC acquired a new stake in Ascentage Pharma Group International in the second quarter valued at $391,000. Tema Etfs LLC acquired a new stake in Ascentage Pharma Group International in the second quarter valued at $610,000. Finally, Monashee Investment Management LLC acquired a new stake in shares of Ascentage Pharma Group International during the first quarter worth about $3,511,000.

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.

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