Apricus Biosciences Inc (NASDAQ:APRI)’s share price dropped 5% during mid-day trading on Thursday . The stock traded as low as $0.37 and last traded at $0.38. Approximately 5,705 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 1,283,322 shares. The stock had previously closed at $0.40.
APRI has been the subject of several recent analyst reports. Zacks Investment Research lowered Apricus Biosciences from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. HC Wainwright lowered Apricus Biosciences from a “buy” rating to a “neutral” rating and set a $1.00 target price for the company. in a report on Friday, February 16th. Finally, ValuEngine raised Apricus Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.
The firm has a market cap of $10.02 million, a PE ratio of -0.38 and a beta of 1.38.
A hedge fund recently bought a new stake in Apricus Biosciences stock. Sabby Management LLC bought a new stake in Apricus Biosciences Inc (NASDAQ:APRI) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,800,000 shares of the company’s stock, valued at approximately $731,000. Sabby Management LLC owned approximately 7.68% of Apricus Biosciences as of its most recent SEC filing. Institutional investors own 27.58% of the company’s stock.
About Apricus Biosciences
Apricus Biosciences, Inc, a biopharmaceutical company, focuses on the development of product candidates in the areas of urology and rheumatology. The company develops Vitaros, a topically-applied cream formulation of alprostadil used for the treatment of erectile dysfunction; and RayVa, which is in Phase IIa clinical trial to treat Raynaud's phenomenon associated with scleroderma.
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