Acasti Pharma Inc. (NASDAQ:ACST) Sees Significant Decline in Short Interest

Acasti Pharma Inc. (NASDAQ:ACSTGet Free Report) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 6,600 shares, a decrease of 71.6% from the February 29th total of 23,200 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 30,400 shares, the days-to-cover ratio is currently 0.2 days.

Acasti Pharma Trading Up 1.5 %

Shares of NASDAQ:ACST opened at $3.45 on Friday. The company has a market cap of $32.43 million, a PE ratio of -0.68 and a beta of 1.48. The company’s 50 day moving average is $3.00 and its two-hundred day moving average is $2.60. Acasti Pharma has a 52 week low of $1.72 and a 52 week high of $3.84.

Acasti Pharma (NASDAQ:ACSTGet Free Report) last announced its earnings results on Monday, February 12th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. As a group, equities research analysts expect that Acasti Pharma will post -1.44 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Craig Hallum assumed coverage on shares of Acasti Pharma in a research note on Wednesday, February 7th. They set a “buy” rating and a $6.00 price objective for the company.

View Our Latest Analysis on ACST

Hedge Funds Weigh In On Acasti Pharma

Several institutional investors and hedge funds have recently modified their holdings of ACST. Royal Bank of Canada raised its position in shares of Acasti Pharma by 5,308.2% in the 4th quarter. Royal Bank of Canada now owns 31,584 shares of the biopharmaceutical company’s stock worth $92,000 after buying an additional 31,000 shares during the period. ADAR1 Capital Management LLC purchased a new stake in shares of Acasti Pharma during the 4th quarter valued at about $100,000. Bank of America Corp DE lifted its position in Acasti Pharma by 174.4% during the 1st quarter. Bank of America Corp DE now owns 56,583 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 35,962 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Acasti Pharma in the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 6.08% of the company’s stock.

About Acasti Pharma

(Get Free Report)

Acasti Pharma Inc engages in the development and commercialization of pharmaceutical products for rare and orphan diseases in Canada. The company's lead product candidate is the GTX-104, an intravenous infusion to treat subarachnoid hemorrhage. It also develops GTX-102, an oral mucosal spray for the treatment of ataxia-telangiectasia; and GTX-101, a topical bioadhesive film-forming bupivacaine spray for postherpetic neuralgia.

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