ALT5 Sigma Corporation (NASDAQ:ALTS) Short Interest Up 220.8% in August

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.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of ALT5 Sigma by 27.6% during 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. Jane Street Group LLC purchased a new position in shares of ALT5 Sigma during the second quarter valued at about $380,000. Bridgeway Capital Management LLC grew its position in shares of ALT5 Sigma by 9.4% during the second quarter. Bridgeway Capital Management LLC now owns 19,339 shares of the company's stock valued at $140,000 after purchasing an additional 1,661 shares in the last quarter. Finally, Evernest Financial Advisors LLC purchased a new position in shares of ALT5 Sigma during the second quarter valued at about $87,000. Hedge funds and other institutional investors own 6.27% of the company's stock.

ALT5 Sigma Stock Performance

Shares of ALT5 Sigma stock opened at $3.97 on Friday. The business has a 50-day moving average price of $6.60 and a 200-day moving average price of $6.51. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.88 and a current ratio of 0.88. ALT5 Sigma has a twelve month low of $1.55 and a twelve month high of $10.95.

Analysts Set New Price Targets

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

About ALT5 Sigma

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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