ARPO RS
$Aerpio Pharmaceuticals Inc(ARPO)$ HC Wainwright assumed a 7:1 reverse stock split for its post-merger target price of $22, meaning around $3.15, which is still 50% gains from its current price of around $2.05 now!
However as per SEC filing, the R/S may range from anything between 5:1 and 15:1. Assuming HC's $22 target price was accurate, a 5:1 RS gives $4.50, which is over 125% gains now. However, a 15:1 RS will give around $1.47.
Expecting prices to continue to fall. SSR in place today preventing short selling but price is still tanking, expecting to see worse trends tomorrow. Alternate days SSR has been in place, the other alternate days without SSR has seen the stock fall ~15%. Still believe there is potential in $ARPO but should look out for more updates and catalysts the next 1-2 months.
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