Hepion Pharmaceuticals (NASDAQ:HEPA) Shares Down 4.1% – Here’s What Happened

Hepion Pharmaceuticals, Inc. (NASDAQ:HEPA) fell 4.1% on Tuesday . The stock traded as low as $0.60 and last traded at $0.60. 24,048 shares traded hands during trading, a decline of 7% from the average session volume of 25,744 shares. The stock had previously closed at $0.63.

Hepion Pharmaceuticals Price Performance

The firm’s fifty day moving average price is $0.66 and its two-hundred day moving average price is $0.82. The stock has a market cap of $4.21 million, a price-to-earnings ratio of -0.14 and a beta of 1.63.

Hedge Funds Weigh In On Hepion Pharmaceuticals

An institutional investor recently raised its position in Hepion Pharmaceuticals stock. Armistice Capital LLC lifted its holdings in shares of Hepion Pharmaceuticals, Inc. (NASDAQ:HEPA) by 32.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 516,000 shares of the company’s stock after acquiring an additional 126,000 shares during the period. Armistice Capital LLC owned approximately 9.43% of Hepion Pharmaceuticals worth $526,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 17.24% of the company’s stock.

About Hepion Pharmaceuticals

Hepion Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development of drug therapy treatment for chronic liver diseases in the United States. It develops Rencofilstat, a cyclophilin inhibitor that has completed Phase 2a clinical trials to target multiple pathologic pathways involved in the progression of liver disease; and is in phase 2 clinical development for the treatment of non-alcoholic steatohepatitis (NASH), as well as preclinical studies of Rencofilstat shows reduction in liver fibrosis, liver inflammation, liver tumor burden, and titers of HBV, HCV, HDV, and HIV-1, and has demonstrated antiviral activities for hepatitis B, C, and D viruses through several mechanisms.