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

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.

Ascentage Pharma Group International - Unsponsored ADR (NASDAQ:AAPG - ) gapped up before the market opened 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.

Ascentage Pharma Group International Stock Performance

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 business has a 50 day moving average of $37.88.

Institutional Investors Weigh In On Ascentage Pharma Group International

A number of hedge funds have recently added to or reduced their stakes in the company. Monashee Investment Management LLC acquired a new stake in Ascentage Pharma Group International in the first quarter valued at approximately $3,511,000. Tema Etfs LLC acquired a new stake in Ascentage Pharma Group International in the second quarter valued at approximately $610,000. Hsbc Holdings PLC acquired a new stake in Ascentage Pharma Group International in the second quarter valued at approximately $391,000. Finally, Chevy Chase Trust Holdings LLC acquired a new stake in Ascentage Pharma Group International in the second quarter valued at approximately $227,000.

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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