Acasti Pharma Inc. (NASDAQ:ACST) Short Interest Update

Acasti Pharma Inc. (NASDAQ:ACST) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,400 shares, a drop of 78.8% from the March 15th total of 6,600 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 29,300 shares, the short-interest ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Craig Hallum initiated coverage on Acasti Pharma in a research note on Wednesday, February 7th. They issued a “buy” rating and a $6.00 price target on the stock.

Acasti Pharma Price Performance

ACST stock opened at $3.40 on Friday. Acasti Pharma has a 52-week low of $1.72 and a 52-week high of $3.84. The stock’s 50 day moving average is $3.21 and its two-hundred day moving average is $2.70. The company has a market capitalization of $31.96 million, a PE ratio of -0.67 and a beta of 1.49.

Acasti Pharma (NASDAQ:ACST) last posted its quarterly earnings data on Monday, February 12th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.02. As a group, sell-side analysts anticipate that Acasti Pharma will post -1.44 EPS for the current year.

Institutional Investors Weigh In On Acasti Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of ACST. ADAR1 Capital Management LLC bought a new stake in shares of Acasti Pharma in the 4th quarter valued at approximately $100,000. Royal Bank of Canada increased its holdings 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 valued at $92,000 after acquiring an additional 31,000 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Acasti Pharma by 174.4% in the 1st quarter. Bank of America Corp DE now owns 56,583 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 35,962 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Acasti Pharma in the 1st quarter valued at approximately $42,000. 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.