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ALT5 Sigma Corporation (NASDAQ:ALTS) Sees Large Increase in Short Interest

ALT5 Sigma logo with Finance background

Key Points

  • ALT5 Sigma Corporation's short interest surged by 220.8% in August, reaching a total of 6,800,000 shares by August 31st.
  • Institutional investors have actively increased their positions in ALT5 Sigma, with Geode Capital Management growing its stake by 27.6% and several others making new investments during the second quarter.
  • Wall Street analysts downgraded ALT5 Sigma from a "hold" to a "strong sell" rating, indicating a shift in market sentiment regarding the stock's future performance.
  • MarketBeat previews the top five stocks to own by November 1st.

ALT5 Sigma Corporation (NASDAQ:ALTS - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 6,800,000 shares, an increase of 220.8% from the August 15th total of 2,120,000 shares. Based on an average daily volume of 6,680,000 shares, the short-interest ratio is presently 1.0 days. Approximately 6.3% of the company's stock are short sold. Approximately 6.3% of the company's stock are short sold. Based on an average daily volume of 6,680,000 shares, the short-interest ratio is presently 1.0 days.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of ALT5 Sigma from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 16th.

Read Our Latest Report on ALT5 Sigma

ALT5 Sigma Stock Down 1.8%

NASDAQ ALTS traded down $0.07 on Wednesday, reaching $3.63. The company's stock had a trading volume of 2,902,871 shares, compared to its average volume of 2,768,889. The business has a 50-day moving average price of $6.37 and a 200 day moving average price of $6.47. ALT5 Sigma has a 52 week low of $1.55 and a 52 week high of $10.95. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.88 and a current ratio of 0.88.

Hedge Funds Weigh In On ALT5 Sigma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC boosted its position in ALT5 Sigma by 9.4% in the second quarter. Bridgeway Capital Management LLC now owns 19,339 shares of the company's stock valued at $140,000 after buying an additional 1,661 shares in the last quarter. Evernest Financial Advisors LLC acquired a new position in ALT5 Sigma in the second quarter valued at approximately $87,000. Geode Capital Management LLC increased its stake in ALT5 Sigma by 27.6% in the second quarter. Geode Capital Management LLC now owns 194,813 shares of the company's stock valued at $1,412,000 after purchasing an additional 42,157 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in ALT5 Sigma in the second quarter valued at approximately $380,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

ALT5 Sigma Company Profile

(Get Free Report)

ALT5 Sigma Corp. is a clinical-stage biopharmaceutical company, which engages in identifying, acquiring, licensing, developing, partnering, and commercializing novel, non-opioid, and non-addictive therapies to address the large unmet medical need for the treatment of pain and addiction. It operates under the Biotechnology and Recycling segments.

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