Aerpio Pharmaceuticals Inc (OTCMKTS:ARPO) shares fell 8.4% on Friday . The company traded as low as $3.31 and last traded at $3.39. 622,920 shares traded hands during mid-day trading, an increase of 1,271% from the average session volume of 45,428 shares. The stock had previously closed at $3.70.

A number of brokerages have weighed in on ARPO. HC Wainwright set a $9.00 price objective on Aerpio Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded Aerpio Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a report on Monday, August 20th. Needham & Company LLC began coverage on Aerpio Pharmaceuticals in a report on Monday, July 23rd. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Guggenheim began coverage on Aerpio Pharmaceuticals in a report on Wednesday. They issued a “buy” rating and a $10.00 price objective on the stock.

Aerpio Pharmaceuticals (OTCMKTS:ARPO) last issued its quarterly earnings data on Tuesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $1.33 million for the quarter. equities research analysts anticipate that Aerpio Pharmaceuticals Inc will post -0.89 EPS for the current fiscal year.

In other news, Director Muneer A. Satter bought 1,818,182 shares of the stock in a transaction that occurred on Thursday, June 28th. The stock was bought at an average cost of $3.85 per share, for a total transaction of $7,000,000.70. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 38.60% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Orbimed Advisors LLC purchased a new position in shares of Aerpio Pharmaceuticals in the 2nd quarter valued at about $21,555,000. FMR LLC purchased a new position in shares of Aerpio Pharmaceuticals in the 2nd quarter valued at about $3,648,000. Nexthera Capital LP purchased a new position in shares of Aerpio Pharmaceuticals in the 2nd quarter valued at about $1,240,000. Finally, Millennium Management LLC purchased a new position in shares of Aerpio Pharmaceuticals in the 2nd quarter valued at about $934,000. Institutional investors own 0.37% of the company’s stock.

About Aerpio Pharmaceuticals (OTCMKTS:ARPO)

Aerpio Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes proprietary therapeutics for treating ocular diseases. The company's lead product candidate is AKB-9778, a small molecule activator of the tie-2 pathway, which completed Phase 2a clinical trials for the treatment of diabetic macular edema.

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