Aerpio Pharmaceuticals (ARPO) Shares Gap Down to $1.22
Aerpio Pharmaceuticals Inc (OTCMKTS:ARPO) gapped down prior to trading on Tuesday . The stock had previously closed at $1.04, but opened at $1.22. Aerpio Pharmaceuticals shares last traded at $1.13, with a volume of 2374687 shares trading hands.
ARPO has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating on shares of Aerpio Pharmaceuticals in a report on Wednesday, March 6th. Cantor Fitzgerald started coverage on Aerpio Pharmaceuticals in a report on Friday, January 18th. They set an “overweight” rating and a $8.00 price target for the company. Guggenheim downgraded Aerpio Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Monday. Finally, National Securities downgraded Aerpio Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $8.25.
Aerpio Pharmaceuticals (OTCMKTS:ARPO) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01.
Large investors have recently added to or reduced their stakes in the business. Sphera Funds Management LTD. increased its position in shares of Aerpio Pharmaceuticals by 2.6% in the third quarter. Sphera Funds Management LTD. now owns 1,131,819 shares of the company’s stock valued at $3,497,000 after buying an additional 28,265 shares in the last quarter. Vanguard Group Inc. purchased a new position in shares of Aerpio Pharmaceuticals in the third quarter valued at $3,331,000. Vanguard Group Inc purchased a new position in shares of Aerpio Pharmaceuticals in the third quarter valued at $3,331,000. Acadian Asset Management LLC purchased a new position in shares of Aerpio Pharmaceuticals in the fourth quarter valued at $28,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Aerpio Pharmaceuticals in the fourth quarter valued at $36,000. Hedge funds and other 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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