Acasti Pharma Inc. (NASDAQ:ACST) Short Interest Up 900.0% in August

Acasti Pharma Inc. (NASDAQ:ACST) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 5,000 shares, an increase of 900.0% from the August 15th total of 500 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 12,500 shares, the short-interest ratio is currently 0.4 days.

Acasti Pharma Stock Down 3.0 %

Shares of NASDAQ ACST traded down $0.07 during midday trading on Thursday, reaching $2.25. The company had a trading volume of 2,451 shares, compared to its average volume of 18,886. Acasti Pharma has a one year low of $1.72 and a one year high of $3.59. The firm’s fifty day moving average price is $2.65 and its 200-day moving average price is $2.96. The stock has a market cap of $21.15 million, a PE ratio of -1.61 and a beta of 1.51.

Acasti Pharma (NASDAQ:ACST) last released its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. As a group, equities research analysts expect that Acasti Pharma will post -1.14 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Acasti Pharma stock. AIGH Capital Management LLC grew its position in shares of Acasti Pharma Inc. (NASDAQ:ACST) by 28.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 641,083 shares of the biopharmaceutical company’s stock after acquiring an additional 143,724 shares during the period. Acasti Pharma comprises about 0.6% of AIGH Capital Management LLC’s holdings, making the stock its 26th largest holding. AIGH Capital Management LLC owned about 6.82% of Acasti Pharma worth $1,883,000 at the end of the most recent reporting period. 6.08% of the stock is 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.