Acasti Pharma (NASDAQ:ACST) Shares Pass Below 200 Day Moving Average of $3.00

Shares of Acasti Pharma Inc. (NASDAQ:ACST) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.00 and traded as low as $2.50. Acasti Pharma shares last traded at $2.59, with a volume of 19,413 shares.

Acasti Pharma Stock Performance

The firm has a market cap of $24.34 million, a P/E ratio of -1.80 and a beta of 1.54. The firm’s fifty day simple moving average is $2.72 and its 200 day simple moving average is $2.99.

Acasti Pharma (NASDAQ:ACST) last posted its earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. On average, equities research analysts predict that Acasti Pharma Inc. will post -1.14 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Acasti Pharma stock. AIGH Capital Management LLC boosted its holdings in shares of Acasti Pharma Inc. (NASDAQ:ACST) by 28.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 641,083 shares of the biopharmaceutical company’s stock after purchasing an additional 143,724 shares during the quarter. Acasti Pharma comprises about 0.6% of AIGH Capital Management LLC’s investment portfolio, making the stock its 26th largest position. AIGH Capital Management LLC owned about 6.82% of Acasti Pharma worth $1,883,000 at the end of the most recent quarter. 6.08% of the stock is currently owned by hedge funds and other institutional investors.

Acasti Pharma Company Profile

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.