HC Wainwright began coverage on shares of Aerpio Pharmaceuticals (OTCMKTS:ARPO) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage issued a neutral rating and a $1.00 price target on the stock.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut Aerpio Pharmaceuticals from a buy rating to a sell rating in a research report on Wednesday, June 5th. Guggenheim cut Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research report on Monday, March 18th. National Securities cut Aerpio Pharmaceuticals from a buy rating to a neutral rating in a research report on Monday, March 18th. Finally, Cantor Fitzgerald set a $8.00 target price on Aerpio Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $6.05.
Shares of OTCMKTS:ARPO opened at $0.97 on Wednesday. Aerpio Pharmaceuticals has a 12-month low of $0.88 and a 12-month high of $4.95.
In other Aerpio Pharmaceuticals news, major shareholder Bioventures Ltd Novartis sold 231,763 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $0.94, for a total value of $217,857.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 1,750,446 shares of company stock worth $1,774,045. Insiders own 38.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ARPO. Acadian Asset Management LLC purchased a new position in shares of Aerpio Pharmaceuticals during the 4th quarter valued at $28,000. Bank of New York Mellon Corp purchased a new position in shares of Aerpio Pharmaceuticals during the 4th quarter valued at $36,000. Raymond James & Associates lifted its position in shares of Aerpio Pharmaceuticals by 158.3% during the 1st quarter. Raymond James & Associates now owns 31,000 shares of the company’s stock valued at $28,000 after buying an additional 19,000 shares during the last quarter. Northern Trust Corp purchased a new position in shares of Aerpio Pharmaceuticals during the 1st quarter valued at $48,000. Finally, Jane Street Group LLC lifted its position in shares of Aerpio Pharmaceuticals by 216.3% during the 4th quarter. Jane Street Group LLC now owns 81,984 shares of the company’s stock valued at $139,000 after buying an additional 56,065 shares during the last quarter. 0.37% of the stock is currently owned by institutional investors and hedge funds.
About Aerpio Pharmaceuticals
Aerpio Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes proprietary therapeutics for treating ocular diseases. The company's lead product candidate is AKB-9778, a small molecule activator of the tie-2 pathway, which completed Phase 2a clinical trials for the treatment of diabetic macular edema.
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