ALT5 Sigma (NASDAQ:ALTS) Downgraded to Strong Sell Rating by Wall Street Zen

Key Points

• ALT5 Sigma's stock rating was downgraded from a "hold" to a "strong sell" by Wall Street Zen, indicating significant concerns about the company's future performance.
• The stock opened at $5.94 and has fluctuated between a 1-year low of $1.55 and a high of $10.95, with recent performance reflecting overall market volatility.
• Institutional investors are actively adjusting their positions, with Geode Capital Management increasing its stake by 27.6% during the second quarter, signaling ongoing interest in the stock despite the downgrade.

ALT5 Sigma (NASDAQ:ALTS - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Saturday.

ALT5 Sigma Stock Performance

Shares of ALT5 Sigma stock traded down $0.6780 during mid-day trading on Friday, reaching $5.4420. 10,986,633 shares of the stock traded hands, compared to its average volume of 1,246,557. The business has a 50-day moving average of $7.77 and a 200 day moving average of $6.59. ALT5 Sigma has a fifty-two week low of $1.55 and a fifty-two week high of $10.95. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.88 and a quick ratio of 0.88.

Institutional Investors Weigh In On ALT5 Sigma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Evernest Financial Advisors LLC acquired a new stake in shares of ALT5 Sigma in the second quarter valued at approximately $87,000. Bridgeway Capital Management LLC increased its holdings in shares of 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 purchasing an additional 1,661 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of ALT5 Sigma in the second quarter valued at approximately $380,000. Finally, Geode Capital Management LLC increased its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 6.27% of the company's stock.

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.