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

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

Acasti Pharma Stock Performance

NASDAQ:ACST traded down $0.07 during trading hours on Thursday, reaching $2.25. The stock had a trading volume of 2,451 shares, compared to its average volume of 18,886. The stock has a 50 day simple moving average of $2.65 and a 200 day simple moving average of $2.96. Acasti Pharma has a 12-month low of $1.72 and a 12-month high of $3.59. The stock has a market cap of $21.15 million, a P/E ratio of -1.61 and a beta of 1.51.

Acasti Pharma (NASDAQ:ACST) last announced its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. On average, equities analysts expect that Acasti Pharma will post -1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acasti Pharma

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% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 641,083 shares of the biopharmaceutical company’s stock after purchasing 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 approximately 6.82% of Acasti Pharma worth $1,883,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.08% of the company’s stock.

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.