Is Acasti Pharma (NASDAQ:ACST) stock Ready To Bounce Back After The Recent Fall?

The Acasti Pharma Inc (NASDAQ:ACST) stock is one of the stocks to have been a notable loser over the course of the past week. The stock has declined by as much as 8% during the period but at the same time it is also necessary for investors to note that there has been no news about the company lately.

In this sort of a situation, it might be a good idea for investors to look at a key development with regards to Acasti Pharma from back in June. The company announced its financial results for the financial year ended on March 31, 2021 and in addition to that, provided an update about the acquisition of Grace Therapeutics.

Acasti Pharma managed to reduce its losses in the financial year to $16.4 million from $24.4 million a year ago and that was a positive development for the company.

The company managed to accomplish that primarily through the reduction of its costs. On the other hand, the company also noted that back in May this year, it signed a definitive agreement with regards to the acquisition of the privately held biopharmaceutical firm Grace Therapeutics. It now remains to be seen if the stock attracts attention from investors following the latest dip.

Market Reaction:

On Wednesday, ACST stock fell 6.67% at $0.5203 with more than 7.40 million shares, compared to its average volume of 13.98 million shares. The stock had moved within a range of $0.5163 – 0.5555 after opening the trade at $0.5555. Over the past 52-week, the stock has been trading within a range of $0.1700 – 1.2200.