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Ascentage Pharma Group International (NASDAQ:AAPG) Shares Gap Up - Here's Why

Ascentage Pharma Group International logo with Medical background

Key Points

  • Ascentage Pharma Group International shares gapped up from $41.15 to $42.45 at market open, indicating positive market sentiment.
  • The company has a debt-to-equity ratio of 3.24, signaling a high level of debt relative to equity.
  • A number of hedge funds have recently increased their stakes in Ascentage, with total reported investments exceeding $4.7 million across several firms.
  • Five stocks to consider instead of Ascentage Pharma Group International.

Ascentage Pharma Group International - Unsponsored ADR (NASDAQ:AAPG - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $41.15, but opened at $42.45. Ascentage Pharma Group International shares last traded at $42.45, with a volume of 2,663 shares trading hands.

Ascentage Pharma Group International Stock Down 2.3%

The company has a debt-to-equity ratio of 3.24, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a fifty day moving average of $38.85.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Chevy Chase Trust Holdings LLC acquired a new stake in shares of Ascentage Pharma Group International in the second quarter worth $227,000. Hsbc Holdings PLC purchased a new stake in shares of Ascentage Pharma Group International in the second quarter worth about $391,000. Tema Etfs LLC purchased a new stake in shares of Ascentage Pharma Group International in the second quarter worth about $610,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of Ascentage Pharma Group International in the first quarter worth about $3,511,000.

Ascentage Pharma Group International Company Profile

(Get Free Report)

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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